Bankruptcy – Page 2 – Beautifaire

12 Apr

Forma Emerges from Bankruptcy with Former Outdoor Voices CEO

Forma Brands, the parent company of Morphe and Lipstick Queen, amongst others, has been acquired by lenders from bankruptcy. Along with Jefferies Finance LLC, funds managed by Cerberus Capital Management LP, and FB Intermediate Holdings LLC, the corporate’s latest owners now also include &vest, a consumer brand investment and operational platform. Thomas Brady, president of Jefferies Finance, said, “On behalf of your entire investor group, we're pleased to finish the acquisition of Forma Brands, enabling the corporate to maneuver forward ready of economic strength. With a latest capital structure that features additional liquidity and fewer debt, Forma Brands is poised to return to growth and increase profitability while it continues providing consumers across the globe with thoughtfully chosen beauty products.” As a part of the...

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5 Apr

Revlon to Exit Bankruptcy as a Private Company –

by Beauty Tips

Fashion, Featured

Revlon to Exit Bankruptcy as a Private Company –

Revlon is about to emerge from bankruptcy later this month as a non-public company and without Ronald Perelman at its helm, now that a federal judge has approved its plan. The business had been traded on the Latest York Stock Exchange since 1996, when owner MacAndrews & Forbes took it public. But through Revlon’s newly approved bankruptcy plan, ownership stakes will likely be handed to secured lenders, while existing shareholders, including MacAndrews chairman Perelman, who controlled around 85 percent of the corporate as of earlier this yr, will likely be left with nothing. Through the plan, the troubled 90-year-old Latest York-based beauty company that owns the namesake Revlon, Elizabeth Arden and Almay brands will eliminate greater than $2.7 billion in debt...

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20 Dec

Revlon Bankruptcy Proposal Would Remove Ron Perelman as Owner

by Beautifaire101

Beauty, Featured

Revlon Bankruptcy Proposal Would Remove Ron Perelman as Owner

Revlon, the troubled 90-year-old Recent York-based beauty company that owns the namesake Revlon, Elizabeth Arden and Almay brands, looks to be near reaching a deal that may see creditors take over the cosmetics company that Ron Perelman has helmed for many years. In line with legal filings, Revlon has entered right into a Chapter 11 restructuring support agreement with two creditor groups that may involve ownership stakes being handed to secured lenders, while existing shareholders, including Perelman, who controlled around 85 percent of the corporate as of earlier this yr, can be left with nothing. The 2 creditor groups are the Consenting BrandCo Lenders, which incorporates Ares Management and Oak Hill Advisors, and the Official Committee of Unsecured Creditors, appointed within...

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19 Dec

Medly Files for Bankruptcy, Reports More Than $110 Million

by Beautifaire101

Beauty, Featured

Medly Files for Bankruptcy, Reports More Than 0 Million

Digital pharmacy start-up Medly Health Inc., which launched in 2017, has voluntarily filed for a Chapter 11 bankruptcy in Delaware, following two large layoffs in August. The corporate reported greater than $110 million in secured debt. The corporate gained popularity in the course of the COVID-19 pandemic as a substitute choice to pharmacies, offering free same-day prescription delivery, and was presupposed to be the fastest-growing digital pharmacy. The brand secured $100 million in Series B funding in July 2020 with plans to proceed scaling the business. In June 2021, Medly acquired Pharmaca, a primarily online wellness store that sells an array of brands like Jane Iredale, Juice Beauty, Vital Proteins and Olly. When this acquisition was revealed, it was said that Pharmaca had...

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