The parent company of Morphe entered Chapter 11 bankruptcy in January. After no better bids emerged, the courts approved a sale to Forma Brand's lenders Jefferies Finance and Cerberus Capital Management in exchange for $690 million in debt relief.
WHO: Forma Brands (formerly known as Morphe Holdings) is an incubator, accelerator, and curator of next-generation beauty brands and products. Its multi-branded and multi-category portfolio includes Morphe, Morphe 2, Jaclyn Cosmetics, Bad Habit, Lipstick Queen, and Playa Beauty.
WHY: Forma Brands, once valued at $2 million, closed all of Morphe’s US stores, roughly 20 in total, in early January and filed for Chapter 11 bankruptcy about a week later.
2 Article(s) Remaining