Forma Brands, the parent company of Morphe – a beauty product purveyor that rose to renown in the late aughts for collaborating with top YouTubers like Jaclyn Hill, Jeffree Star, and James Charles – has filed for bankruptcy.
Per its Chapter 11 proceedings, Forma will be taken over by a group of lenders, including Jefferies Finance and Cerbereus Capital Management, who are investing $33 million into the beleaguered company.
In a press release, Forma said its “product development initiatives, brand launch plans, and marketing collaborations remain in place,” and customers will still be able to shop its portfolio of brands.
Per its website, Forma’s portfolio comprises Morphe, Morphe 2, Jaclyn Cosmetics, Bad Habit, Lipstick Queen, and Playa Beauty — the latter of which is suing Forma for $15 million, alleging it was sidelined after its acquisition, Business of Fashion reported earlier this month.
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