Bankruptcy – Beautifaire

23 May

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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17 Aug

TrèStique Parent Company Files Bankruptcy Amid Founder Dispute –

by Beautifaire101

Beauty, Featured

TrèStique Parent Company Files Bankruptcy Amid Founder Dispute –

Tomia Beauty, the corporate behind color cosmetics brand TrèStique, has filed for Chapter 11 bankruptcy in a Latest Jersey court amid a dispute between the founders. The sweetness brand was founded by Intercos veterans Jennifer Kapahi and Jack Bensason in 2015 with the slogan “Face in a Case,” and relaunched in 2021 with latest products, updated formulas and zero-waste packaging. But court documents filed as a part of the bankruptcy case revealed infighting over control of TrèStique. In court papers, Tomia, an organization affiliated with Kapahi, alleged that Bensason teamed with an outdoor investor, Asuf Landau, and formed a latest company that also called itself Trestique. The court filings pointed to public records showing that a Delaware corporation, Lucky Color Inc., was formed...

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13 Aug

Amyris Files for Chapter 11 Bankruptcy – WWD

by Beautifaire101

Beauty, Featured

Amyris Files for Chapter 11 Bankruptcy – WWD

Amyris, a onetime biotech darling that sought to alter the wonder industry with progressive and sustainable ingredients and later moved into the celebrity brand world, has filed for Chapter 11 bankruptcy in a Delaware Court and is seeking to off-load its consumer arm. The announcement comes just a couple of days after it shuttered three brands — Costa Brazil with former Calvin Klein designer Francisco Costa, Onda Beauty cofounded by Naomi Watts and Purecane — and terminated 260 positions, a rep confirmed. “Over the past months, now we have been hard at work on a strategic transformation plan to cut back costs, improve operational effectiveness, and achieve sustainable growth,” Han Kieftenbeld, interim chief executive officer and chief financial officer of Amyris, said...

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2 May

Can Revlon Regain Relevance because it Exits Bankruptcy? –

by Beauty Tips

Fashion, Featured

Can Revlon Regain Relevance because it Exits Bankruptcy? –

It’s official — Revlon is out of bankruptcy, and Ronald Perelman is out of Revlon. “I’m sure there will likely be loads of changes. Ronald not holds the keys,” said one industry source, speculating about Revlon’s post-bankruptcy life. Perelman had helmed Revlon for the reason that ’80s as majority owner and chairman, wielding many years of control over a once-powerful beauty brand that for years urged women to “be unforgettable.” Now, Revlon’s got to take that mission to heart because it emerges right into a beauty market chock-a-block with celebrity and influencer brands, in addition to dominant conglomerates, including L’Oréal. The business emerged from Chapter 11 bankruptcy after just below a yr Tuesday, with a recent owner, recent board and billions less in...

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