Tori Belle Cosmetics’ guardian 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 this time.
LashLiner and Tori Belle function within the cosmetics MLM area of interest. The businesses have 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 the MLM facet of the enterprise, by way of which LashLiner merchandise are offered.
Tori Belle is offered solely by way of tens of hundreds of unbiased associates and influencers, throughout many channels together with social media, internet advertising, and brick-and-mortar venues.
A Comparative Stability 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”
Price 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 not danger the substantial harm to its enterprise that will inevitably attend any decline in its Workers’ morale attributable to the Debtor’s failure to pay wages, salaries, and different comparable objects.
Absent an order granting the aid requested on this Movement, the Workers will undergo undue hardship and, in lots of cases, critical monetary difficulties, because the quantities in query are wanted to allow sure of the Workers to fulfill their very own private monetary obligations.
The applying was granted on August nineteenth.
Following LashLiner and by extension Tori Belle Cosmetics’ chapter is a bit difficult as I’m not accustomed to the corporate. I’ll do my finest to maintain observe of any important 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.