Beauty Brands LLC, a Midwest retail chain selling makeup, hair and skincare products, has filed for bankruptcy protection in hopes of salvaging at least some of its locations through a sale in chapter 11, WSJ Pro Bankruptcy reported. The Kansas City, Mo.-based retailer filed for chapter 11 protection Sunday in the U.S. Bankruptcy Court in Wilmington, Del., saying it owes at least $6.9 million on a secured loan and about $11 million to vendors, suppliers and other unsecured creditors. Beauty Brands cited declining sales, increased operating costs and an expensive rebranding at a handful of locations that have underperformed as causes for the bankruptcy filing. The retailer is backed by San Francisco-based private equity firm TSG Consumer Partners, court papers say.
