Black Hair Media Forum Homepage
BHM BHM BHM
Summer Hair Takeover Specials
Forum Home Forum Home > Lets Talk > Talk, Talk, and More Talk
  New Posts New Posts RSS Feed - Carol's Daughter Files For Bankruptcy
  FAQ FAQ  Forum Search   Register Register  Login Login
Perfect Hair Collection
 

Carol's Daughter Files For Bankruptcy

 
 Post Reply Post Reply Page  123 8>




The Best Human Hair Available with No Service Match

Author
CherryBlossom View Drop Down
Elite Member
Elite Member
Avatar

Joined: Oct 12 2011
Location: London, England
Status: Offline
Points: 377420
Post Options Post Options   Thanks (0) Thanks(0)   Quote CherryBlossom Quote  Post ReplyReply Direct Link To This Post Topic: Carol's Daughter Files For Bankruptcy
    Posted: Apr 25 2014 at 4:06am

2:40 pm ET
Apr 24, 2014

NEW CASES

Carol’s Daughter Companies File for Bankruptcy


    Lisa Price, founder and CEO of Carol’s Daughter, speaking at an Urban League luncheon last month.
     
    Associated Press

    Companies affiliated withCarol’s Daughter filed for Chapter 11 bankruptcy protection Thursday in connection with the beauty brand’s move to close most of its stores.

    CD Stores LLC, formerly known as Carol’s Daughter Stores LLC, filed its Chapter 11 petition with the Manhattan bankruptcy court, as did the individual companies behind Carol’s Daughter stores. Court papers show that CD Stores is 100% owned by parent company Carol’s Daughter Holdings LLC (the parent company didn’t file for bankruptcy). And the petition, which reported assets and debts each in the $1 million to $10 million range, was signed by Carol’s Daughter Chief Financial Officer John D. Elmer.

    In new court papers filed Thursday afternoon, Mr. Elmer said most Carol’s Daughter stores have been unprofitable since 2010. Before the bankruptcy filing, the company closed all but two of its seven stores and terminated 29 of its 42 employees. It hopes to use its time in Chapter 11 to reorganize and consolidate its operations around its two open stores, in Brooklyn and Harlem. Besides the stores, Carol’s Daughter products are offered for sale on its website and through such third parties as the Home Shopping Network and Sephora.

    In fact, Carol’s Daughter products are now available in more than 2,000 other retail stores around the U.S., according to Richard Dantas, chief executive of Carol’s Daughter. He said  that the company is refocusing its distribution strategy to focus on these retailers.

    “Today’s filing in no way reflects the parent company’s healthy financial situation, and is a part of its plan to grow the brand through national retail outlets,” Mr. Dantas said Thursday in an emailed statement.

    Joining CD Stores in Chapter 11 were such affiliated companies as CD Store Atlantic Terminal LLC and CD Store Roosevelt Field LLC, which respectively share addresses with Carol’s Daughter stores in Brooklyn and Garden City, N.Y.

    Founded in 1993 by Lisa Price (the eponymous Carol’s daughter), the chain makes hair, body and skincare products with natural ingredients, with a special focus on products for African-American women. The line has enjoyed financial backing in the past from such celebrities as Will Smith, Jada Pinkett Smith and Jay Z and was featured on Oprah.

    Carol’s Daughter is a portfolio company of private equity firm Pegasus Capital Advisors LP, according to its website. A Pegasus spokesman declined comment.

    ABL Advisor, an online trade publication for asset-based lenders, reported Tuesday that Carol’s Daughter Holdings LLC borrowed a $3 million senior secured revolving credit facility from Siena Lending Group LLC for working capital and the expansion of the company’s distribution model. A Siena representative wasn’t immediately available to comment.

    Last year, Reuters reported that Carol’s Daughter was exploring a sale.

    Back to Top
    Sponsored Links


    Back to Top
    f8dagrate View Drop Down
    Elite Member
    Elite Member
    Avatar

    Joined: Nov 26 2010
    Location: inyomouf
    Status: Offline
    Points: 95299
    Post Options Post Options   Thanks (5) Thanks(5)   Quote f8dagrate Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 4:08am
    After they threw the regla blacks under the bus, they lost some of their true fan base.
    Back to Top
    Diane (35) View Drop Down
    Elite Member
    Elite Member
    Avatar

    Joined: Sep 16 2006
    Location: Jamrock
    Status: Offline
    Points: 39708
    Post Options Post Options   Thanks (1) Thanks(1)   Quote Diane (35) Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 4:19am
    GYAAAAAAAAAAAaaaaaaaLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL i was just gonna make the thread LOLOLOL

    let me drop a couple of the links i found after i saw the post in random thoughts
    LOL

    http://www.lipstickalley.com/showthread.php?t=687602

    http://www.clutchmagonline.com/2014/04/carols-daughter-files-bankruptcy/?utm_source=rss&utm_medium=rss&utm_campaign=carols-daughter-files-bankruptcy  comments section

    http://www.longhaircareforum.com/showthread.php?p=19984617


    Back to Top
    Derri View Drop Down
    Elite Member
    Elite Member


    Joined: Jul 26 2008
    Location: Paradise
    Status: Offline
    Points: 64547
    Post Options Post Options   Thanks (0) Thanks(0)   Quote Derri Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 4:31am
    Oh damn..
    Back to Top
    newdiva1 View Drop Down
    Elite Member
    Elite Member
    Avatar

    Joined: Dec 15 2006
    Status: Offline
    Points: 193802
    Post Options Post Options   Thanks (0) Thanks(0)   Quote newdiva1 Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 4:35am
    dang.
    Back to Top
    morenaloca View Drop Down
    Elite Member
    Elite Member
    Avatar

    Joined: Jan 18 2010
    Location: US - California
    Status: Offline
    Points: 10168
    Post Options Post Options   Thanks (10) Thanks(10)   Quote morenaloca Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 4:37am
    that's what they get for having sh*tty products
    Back to Top
    CherryBlossom View Drop Down
    Elite Member
    Elite Member
    Avatar

    Joined: Oct 12 2011
    Location: London, England
    Status: Offline
    Points: 377420
    Post Options Post Options   Thanks (10) Thanks(10)   Quote CherryBlossom Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 5:06am
    yeah I heard about them wanting to cater to "multiracial" hair as they got bigger

    ...I never really used their products

    ..real talk a lot of these so-called "natural" hair products are overpriced and overrated imo
    Back to Top
    tatee View Drop Down
    Elite Member
    Elite Member
    Avatar

    Joined: Jun 09 2006
    Status: Offline
    Points: 380968
    Post Options Post Options   Thanks (13) Thanks(13)   Quote tatee Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 5:34am
    Quote


    this maybe the dumbest sh*t ive read in a minute.
    Back to Top
    Lilaca View Drop Down
    Elite Member
    Elite Member


    Joined: Aug 07 2006
    Location: England
    Status: Offline
    Points: 127826
    Post Options Post Options   Thanks (13) Thanks(13)   Quote Lilaca Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 6:01am
    The acute rise and rapid fall of the new blackism
     
    Polyethnic my arse
    Back to Top
    afrokock View Drop Down
    Elite Member
    Elite Member
    Avatar

    Joined: May 19 2008
    Location: South London
    Status: Offline
    Points: 867579
    Post Options Post Options   Thanks (0) Thanks(0)   Quote afrokock Quote  Post ReplyReply Direct Link To This Post Posted: Apr 25 2014 at 6:06am
    Lol I despise Steve stout
    Back to Top
    Get Longer Healthier Faster Growing Hair
    House of CB London
    Get Healthier Stronger Longer Hair
    The Elite Hair Care Sorority
    Electric Cherry Hair
    Hair Extensions Wefted Hair Wigs and More
    Human Hair Wigs
    Wefting Training
    FAB Hair Premium Hair Extensions
    Dependable Quality Hair
    Switch Up your Look with a protective Style
     Post Reply Post Reply Page  123 8>
      Share Topic   

    Forum Jump Forum Permissions View Drop Down