According to Reorg Research, Forma Brands, the parent company of Morphe, Lipstick Queen, and Jaclyn Hill?s Jaclyn Cosmetics, may file for bankruptcy. Forma brands has about $600 million to $700 million of debt.
?Forma Brands is engaged in constructive discussions with our financial stakeholders regarding ways to strengthen the company financially and enable us to reinforce our focus on the opportunities we see ahead for our brands. We are excited about the products we will continue to bring to our customers.?
As per news sources, Forma blames the decline in sales due to the pandemic, supply issues, and loss of interest in color cosmetics. This comes as no surprise considering beauty, in general, seems down across the board and many brands have been forced to shut down entirely in the last two years including Clarisonic, Becca Cosmetics, Makeup Geek, Coastal Scents, and many more. Sadly, after Christmas and into the New Year I fear more brands will be coming forward with the same problems. Keep in mind Morphe’s filing for bankruptcy doesn’t mean it’ll be gone forever. Forma Brands may use this as a way to restructure their brands. We’ll have to wait and see if that’s what happens.
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