Celebrity-Backed Baby Brand Hello Bello Files for Bankruptcy (1)

Baby products company Hello Bello, founded by actress Kristen Bell and actor Dax Shepard, filed for bankruptcy after it struggled to overcome high shipping and production costs.

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 on Monday. The filing protects the company from creditors while it tries to sell itself out of bankruptcy.

High material and shipping costs have hurt the company in recent years and were a major factor in its ultimate bankruptcy, according to court papers. Hello Bello ...