Sectors
Foley & Lardner LLP partner John Simon is quoted on bankruptcy trends in the beauty industry in the Glam article, “Makeup And Beauty Companies That May Not Be Around Much Longer.”
Simon described the impact of various economic pressure points for the industry, including inflation, interest rates, and supply chain issues, that are contributing to the financial insolvency of several beauty brands.
“Many companies in fashion and beauty have struggled with sales and paying their debts,” he noted earlier in a Vogue article cited by Glam. “This has created conditions that are ripe for company insolvencies in the industry. We’re definitely seeing more of them.”
Simon’s commentary also appeared in MSN.
