The Los Angeles-based company, backed by private equity firm VMG Partners, listed assets and liabilities of at least $100 million each in its bankruptcy petition. The filing protects the company from creditors while it works out a way to repay them.
In 2019, Bell and Shepherd, who are married, launched the brand alongside a deal to sell the products exclusively at Walmart, according to a statement at the time. Hello Bello joins other consumer companies such as Bed Bath & Beyond that have buckled this year as the pressure of inflation and high interest rates persists. The brand’s largest creditor is a tissue products supplier that may be owed about $22 million, according to court papers.
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