Overview
- The company filed for Chapter 11 on January 22 in the Southern District of Florida, listing more than $50 million in liabilities.
- A judge approved a $1 million debtor-provided loan to maintain operations and continue paying employees.
- A previously planned lender-run auction of the brand’s assets has been postponed indefinitely, according to WWD.
- Pat McGrath Labs says it will operate in the ordinary course as it works to reorganize its balance sheet.
- The brand once raised $60 million from Eurazeo at a reported valuation above $1 billion, but recent coverage notes operational strains, leadership turnover, and layoffs.