Kansas-based salon and spa retailer Beauty Brands has filed for Chapter 11 in the wake of 25 store closures, according to the Kansas City Star.
The Star reported the company hopes to sell its operating assets as an ongoing concern, with Hilco Merchant Resources serving as the stalking horse bidder in the sale.
The Star added the company’s bankruptcy petition lists between $10 million and $50 million in assets but with an equal amount in liabilities and with many of its unsecured creditors also its vendors.
