Glosslab, the nail salon chain concept that raised $20 million, filed Chapter 11 bankruptcy at the end of 2024 and is selling assets for $525K in two purchase agreements with VD Brand Holdings and Townhouse. WHO: Glosslab was founded by former hedge fund executive Rachel Apfel Glass in 2018 to modernize the manicure experience with a focus on hygiene and efficiency. Its salons featured technology-enhanced services such as online booking, cashless payment, and contactless check-in and check-out. Glosslab offered an unlimited membership model ($125/month for unlimited manicures + pedicures). The brand also launched an e-commerce site selling a branded product range. WHY: In December 2024, Glosslab and its corporate affiliates sought court protection in the U.S. Bankruptcy Court for the Southern District of New York and sought to sell what remains of the business to VD Brand Holdings Inc., according to court documents.IN THEIR OWN WORDS: According to WWD, Rachel Apfel Glass, the founder of Glosslab, confirmed that entrepreneur Adam Weitsman owned VD Brand Holdings, and that he would be focused on turning the brand into a beauty product–oriented lifestyle brand. “He brought in this rock star team to do that, and then, Townhouse is one of the best operators in the world of nail salons,” Glass said. “We thought hand-in-hand with Glosslab continuing on as a brand, Townhouse should take the two locations of nail salons.”“In Glosslab, I saw an opportunity to transform a strong brand into a global leader through smart, strategic growth,” Weitsman said in a statement.