Tori Belle Cosmetics’ dad or mum firm LashLiner has filed for chapter.
As per an August eighth Chapter 11 submitting within the Western District of Washington, LashLiner had $5.2 million in liabilities on the finish of FY 2021.
I hadn’t heard of LashLiner or Tori Belle Cosmetics until a reader reached out earlier at present.
LashLiner and Tori Belle function within the cosmetics MLM area of interest. The businesses had been co-founded by Laura Hunter (CEO) and Bob Kitzberger (President).
Hunter and Kitzberger share a 50/50 fairness stake in LashLiner.
That is direct from LashLiner’s web site;
Laura Hunter invented magnetic eyeliner in February 2018, a game-changing innovation that makes it dramatically simpler for individuals to use and put on false eyelashes.
Hunter based LashLiner Inc in 2018 to convey her patent-pending invention to market, alongside co-founder Bob Kitzberger, and in June 2019 launched Tori Belle Cosmetics.
As I perceive it Tori Belle Cosmetics is a LashLiner subsidiary, by way of which the MLM aspect of the enterprise operates.
Tori Belle is bought completely by way of tens of 1000’s of unbiased associates and influencers, throughout many channels together with social media, internet advertising, and brick-and-mortar venues.
A Comparative Steadiness Sheet filed in August fifteenth reveals the next legal responsibility breakdown, as of the top of FY 2021:
- $3.5 million in accounts payable
- $281,647 in bank card debt
- $1.44 million marked as “different present legal responsibility”
Value additionally noting is $3.1 million in accounts receivable, and $5.4 million in held product stock.
In an effort to maintain the corporate collectively, on August seventeenth LashLiner filed an ex parte software to Pay Wages and Salaries and Payroll Taxes.
LashLiner argued that not paying its employees would “irreparably impair the Workers’ morale, dedication, confidence, and cooperation.”
At this early stage, the Debtor merely can’t danger the substantial harm to its enterprise that may inevitably attend any decline in its Workers’ morale attributable to the Debtor’s failure to pay wages, salaries, and different related gadgets.
Absent an order granting the reduction requested on this Movement, the Workers will endure undue hardship and, in lots of cases, severe monetary difficulties, because the quantities in query are wanted to allow sure of the Workers to fulfill their very own private monetary obligations.
The appliance was granted on August nineteenth.
Following LashLiner and by extension Tori Belle Cosmetics’ chapter is a bit difficult as I’m not acquainted with the corporate. I’ll do my greatest to maintain monitor of any vital developments going ahead.
I’m conscious of two Tori Belle Cosmetics class-action lawsuits filed in August, the main points of which I’ll cowl in pending separate articles.
Replace twentieth August 2022 – Laura Hunter held an August nineteenth FaceBook stay to handle LashLiner’s chapter.
This seems to have occurred after chapter proceedings had been inadvertently leaked on Friday, following the worker fee concern detailed above.
