In the era of Ulta and Sephora, the once salon and spa powerhouse Beauty Brands officially filed for Chapter 11 bankruptcy protection this week. The company entered into an asset purchase agreement with Hilco Merchant Resources for a sale of its operating assets. This news comes on the heels of a prior announcement from the beauty superstore that it would close 25 stores and also reduce its corporate staff.
Founded by the Bernstein family of Bernstein-Rein fame, Beauty Brands was started in Kansas City in 1995, but then sold to a private California-based company in 2013.
Moving forward, the remaining 33 Beauty Brands stores will remain open and operating per usual as the a sale transaction is pursued.