Forma Brands, the parent company of Morphe, Lipstick Queen and Jaclyn Hill’s Jaclyn Cosmetics, may file for Chapter 11 bankruptcy, reports Reorg Research.
 
Sources blame the pandemic, which caused a two-year slide in color cosmetics sales, supply chain issues, as well as controversy surrounding celebrity brands from Jeffree Star and James Charles.
 
Majority owner, private equity firm General Atlantic, declined to comment.
 
A spokesperson for Forma said: “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.”

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