Morphe parent company Forma Brands files for Chapter 11 bankruptcy

One week after makeup mark Morph announced on Twitter that it would be closing all U.S. stores, its parent company, Forma Brands, has filed for Chapter 11 bankruptcy.

Forma Brands is the incubator and holding company behind cosmetic brands such as Morphe, Jaclyn Cosmetics, Playa, Lipstick Queen and Ariana Grande‘s REM beauty. In a civil servant announcement, Forma confirmed that its assets would be acquired by a group of lenders including Jefferies Finance LLC, Cerberus Capital Management LP and Intermediate Holdings LLC. Forma received about $33 million from creditors to support business operations through the sale process.

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