Pat McGrath Labs was being marketed for sale, but the company is now poised to enter Chapter 11 proceedings.
“During this process, the company will continue operations in the ordinary course of business while working to restructure its balance sheet and to forge a path to thrive,” a spokeswoman forLabs said in a statement.
“Pat McGrath Labs remains committed to its community, customers, partners and stakeholders as it continues delivering its signature, high-quality products and culture-defining artistry and innovation.”Best Valentine's Day Gifts for Boyfriends, Fiancés, and Husbands 2026 As a result, the spokeswoman added that the company’s secured lender’s scheduled auction for the brand’s assets has been postponed indefinitely.Labs was being marketed for sale, with Hilco Global managing the process. The auction was meant to take place on Monday. At the time, a spokeswoman for Pat McGrath Labs said: “Pat McGrath Labs is currently going through restructuring and recapitalization processes with its partners to align its financial framework with the enduring strength and creative leadership of the brand. These processes, expected to be completed in early 2026, along with a strong pipeline of innovation, the commitment of its partners, and the unwavering support of its passionate global community, will allow Pat McGrath Labs to move forward in a productive and healthy environment. The good news is, from the beginning of this year, brand sales are up significantly and Pat McGrath Labs is feeling great momentum going into the new year.” After decades on the fashion week circuit, pioneering runway looks from studded lips to gilded eyebrows, Pat McGrath launched the makeup line in 2015, a $40 gold, multipurpose pigment. The limited-edition product, sold in a bag full of custom sequins , sold out 1,000 units from her website in six minutes and kicked off a series of product drops. In 2018, the brand received $60 million in funding from Eurazeo Brands. At the time, industry sources said the firm was estimated to have taken a 5 to 8 percent stake in the business at a valuation of more than $1 billion. , among others, has struggled with operational challenges and undergone executive changes and layoffs while its valuation is now said to be a fraction of what it once was. A few years ago, Eurazeo quietly sold its stake., but not just only beauty — a real world, a planet, basically — it’s been so much a universe, so much fun,” McGrath said at a press conference earlier this year of creating the La Beauté makeup collection.. We use vendors that may also process your information to help provide our services. // This site is protected by reCAPTCHA Enterprise and the Google WWD and Women's Wear Daily are part of Penske Media Corporation. © 2026 Fairchild Publishing, LLC. All Rights Reserved.
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