BH Cosmetics, which recently created makeup lines with Doja Cat and Iggy Azalea, has filed for bankruptcy.
The cosmetics brand filed for Chapter 11 bankruptcy protection in Wilmington, Del., on Jan. 14, with plans to sell its mental property for $4.3 million.
BH sold its products online, in addition to through Ulta Beauty and other retailers.
BH said in court papers that it hired Hilco Streambank and has signed a purchase order agreement with RBI Acquisition Holdings LLC because the stalking-horse bidder for the assets. A pre-petition sale attempt, where the corporate hired a banker to sell itself starting in September, didn't work out, the corporate wrote in court papers.
“The debtors’ declining revenues are insufficient to support continued operations,” BH wrote in court...
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