Morphe's parent company has filed for bankruptcy after influencer-fueled rise alongside Jeffree Star, James Charles in the late aughts
Forma will be taken over by a group of lenders, who are investing $33 million into the beleaguered company.
Court docs show that high-profile partners like Jeffree Star and James Charles are among its top unsecured creditors.
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.