Business Categories Reports Podcasts Events Awards Webinars
Contact My Account About


Published December 23, 2019
Published December 23, 2019
High Ridge Brands

High Ridge Brands Co., the owner of brands like Zest soap and VO5 shampoo, filed a voluntary Chapter 11 bankruptcy in Delaware with plans to sell itself in a court-supervised process.

WHO: High Ridge Brands was formed in 2010 to acquire the rights to Zest for the US, Canada, and certain other territories, from Procter & Gamble and to serve as a platform for strategic acquisitions in the personal care segment. The Stamford, Connecticut-based company is owned by the private equity firm Clayton, Dubilier & Rice. Much of the company’s portfolio is sold through discounters like Dollar Tree, Walmart, and 99 Cents Only stores.

WHY: High Ridge blamed its bankruptcy in part on a soap supplier who increased prices by 60% and then failed to deliver enough product on time, hurting sales, Chief Restructuring Officer M. Benjamin Jones of Ankura Consulting Group, LLC, said in court papers.


  • High Ridge Brands filed for Chapter 11 protection in US Bankruptcy Court in Wilmington, Delaware, after a pre-bankruptcy marketing process that began in September failed to generate a stalking horse or lead bidder for its assets.
  • The company’s UK business operations are not included in the bankruptcy filing.
  • The company listed as much as $500 million in assets and at least $500 million of liabilities in its bankruptcy petition.
  • High Ridge said in a statement it’s in active discussions with potential bidders and has $20 million committed for a bankruptcy loan from current lenders.
  • In October, High Ridge skipped payments on its debts and won forbearance from lenders, giving the company time to evaluate its options, according to an S&P report.
  • The company owes senior lenders $263 million and unsecured noteholders $261 million, court papers show.
  • High Ridge expects to continue paying its suppliers in full and maintain on-time deliveries to customers, according to an emailed statement to Bloomberg.

2 Article(s) Remaining

Subscribe today for full access