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Morphe's parent company has filed for bankruptcy after influencer-fueled rise alongside Jeffree Star, James Charles in the late aughts
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Forma will be taken over by a group of lenders, who are investing $33 million into the beleaguered company.
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Court docs show that high-profile partners like Jeffree Star and James Charles are among its top unsecured creditors.
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The bankruptcy filing arrives after Morphe shuttered all of its US stores last week.
Forma Brands, the parent company of Morphe – a beauty product purveyor that rose to renown in the late aughts for collaborating with top YouTubers like Jaclyn Hill, Jeffree Star, and James Charles – has filed for bankruptcy.
Per its Chapter 11 proceedings, Forma will be taken over by a group of lenders, including Jefferies Finance and Cerbereus Capital Management, who are investing $33 million into the beleaguered company.