The star makeup artist, appointed last year as creative director of makeup at Louis Vuitton, is facing difficulties with her own brand, Pat McGrath Labs. Launched successfully in 2015, then quietly abandoned by two investors, the Eurazeo fund and Sienna Investment Managers, the brand had to file for bankruptcy in order to continue operating.
Can you have your cake and eat it too?
Barely a year after being appointed creative director of makeup at Louis Vuitton, Pat McGrath, the British star of this specialty, in which she is considered one of the most influential and innovative personalities, has placed her own company under the protection of Chapter 11 of the US Bankruptcy Code.
Last December, WWD revealed that Pat McGrath Labs was going to be put up for auction, an option that allows a company in financial difficulty to sell its assets more quickly.
Heavily in debt
But the auction, which was scheduled to take place on January 27, has been postponed indefinitely by the Chapter 11 proceedings. The latter offers temporary protection to what was one of the most notable successes in independent beauty in the 2010s, allowing it to negotiate with its creditors in order to continue its activities and, if possible, get back on its feet.
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Featured photo: © Pat McGrath Labs
