Beauty Store Business magazine - January, 2019

Bankruptcy

Beauty Brands Files Chapter 11

This week, Beauty Brands announced that it has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

Concurrently, the company announced that it entered into an asset purchase agreement with Hilco Merchant Resources for a sale of its operating assets. The ultimate outcome of the filing and any asset sale is subject to the oversight and approval of the Bankruptcy Court.