Doja Cat, Iggy Azalea Partner BH Cosmetics Files for Bankruptcy

BH Cosmetics, which recently created makeup lines with Doja Cat and Iggy Azalea, has filed for bankruptcy. The cosmetics brand filed for chapter 11 bankruptcy protection on Jan. 14, with plans to sell its intellectual property for $4.3 million. BH sold its products online, as well as through Ulta Beauty and other retailers. BH said in court papers that it hired Hilco Streambank and has signed a purchase agreement with RBI Acquisition Holdings LLC as the stalking-horse bidder for the assets. A pre-petition sale attempt, where the company hired a banker to sell itself starting in September, did not work out, the company wrote in court papers.

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