Retailer Morphe Enters Bankruptcy, Ends Ariana Grande Deal (2)

Forma Brands LLC, the parent company of makeup retailer Morphe LLC, filed for bankruptcy in Delaware on Thursday with plans to be taken over by lenders including Jefferies Finance LLC and Cerberus Capital Management.

The company listed assets and liabilities of at least $500 million each in court papers. The Chapter 11 filing allows Forma to keep operating while it seeks court approval of a restructuring plan, though the company has already said it’s closing all of Morphe’s US stores.

The investor group slated to take ownership of Forma has agreed to provide $33 million of fresh ...