NewAge Says Cost of Internal Probe Contributed to Bankruptcy

NewAge Inc., a publicly traded seller of beverages, supplements and other health and wellness products, said its bankruptcy filing is due in part to the cost of an investigation into a potential violation of the Foreign Corrupt Practices Act, a U.S. antibribery law.

NewAge, which filed for bankruptcy on Tuesday, has 320 employees and sells through a direct sales network in more than 50 countries. The business has an e-commerce sales platform and a store distribution business in Colorado. Its largest brand is Tahitian Noni, a line that includes juices and marketed to help reduce inflammation.