Latest news with #Chapter11
Miami Herald
32 minutes ago
- Business
- Miami Herald
Inflation, firing Powell, and why Costco may not be a real value
Americans have been deluged by reports and the reality of higher consumer prices. What has been confusing is figuring out exactly what prices have gone up and how that has impacted you. In some cases, prices increases have been widespread and across the board. Egg prices, for example, went up nationally due to supply reasons. Related: Gigantic pet care, insurance company files Chapter 11 bankruptcy Exactly how much more eggs cost varied by store as some retailers opted to eat some of the increases, while other passed them on to consumers. It has been a confusing situation given that most people only really know what they spend each week on groceries, not how much each item costs. In addition, Americans have also opted to trade down, maybe picking chicken instead if beef, or ground beef over steak. Don't miss the move: Subscribe to TheStreet's free daily newsletter Inflation, of course, isn't just groceries. It has also hit hard in housing and the car market. Daniel Kline, Todd Campbell, and Maurie Back dived into prices, and why Costco (COST) may not be the answer for most people, on the first edition of the Street Smarts podcast. Transcript: Dan Kline: You are listening to the first episode of Street Smarts. This is the podcast from TheStreet. This is the soon to be biggest business podcast in the world. I will lay down that gauntlet right now. Todd Campbell, editor-in-chief of TheStreet, my partner here. You wanted to talk about inflation, the GDP numbers. Trump is going to fire Powell. There is so much going on. Remember, this is a short forum podcast as we head into this segment. I know, and I get talking. I could go on forever. Todd Campbell: I think, like Maurie, maybe I'm a little naturally caffeinated. I don't need to have too much added. But, you know, I think that, you know, there's all of this confusion and just like, yeah, everybody's like, oh, what's going to happen? And you look at what happened from the high in February when all these tariffs started getting announced and the stock market was making all-time highs and then fell 19% through early April when President Trump announced the reciprocal tariffs and all that stuff in April 2nd. Liberation Day. Hey, freedom. Freedom to lose money for a couple days until he paused them on April 9th and then off to the races. I think that just really surprised everybody because the reality is that a lot of the same reasons that the stocks, the stock market declined, they still remain. You know, I mean, you know, GDP is only expected to grow 1.4% this year, down from 2.8% last year. We just got the latest CPI inflation data and it shows inflation rose year over year from May into June. Not a lot, but it's still in the high 2% range. And, you know, kind of like Maurie was saying before, I mean, inflation is kind of this insidious beast, right? You know, people forget, oh, it's only 3% year over year. Yeah, but it's cumulative. So, that 3% is coming on top of 5%, which is coming on top of 2002, 8%. More Retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brand Kline: Let me jump in here, Todd. First of all, you can find my album, Reciprocal Tariffs, at Tower Records, on MySpace, every place albums are no longer sold. But before we do that, so let's talk about inflation. Because here's how I view inflation. I know it's high, and I know certain people have to buy certain products, but I'm not sure how you shop. But when I go into the grocery store, and I'm going to name the grocery store I shop at, because it'll tell you sort of where I am. I go to Fresh Market most days. And when I walk into Fresh Market, I look at what's on sale. And if I don't hate that, that's probably what I buy. So, if I'm going to buy, you know, a rack of ribs, and it's $3.99 a pound, it doesn't matter to me that salmon's up 50%. Maurie Backman: Yeah, but Dan, I have to interrupt you here, because that is spoken like someone with a 21-year-old. And maybe by then, they've gotten over their picky eater habits. But I'm going to tell you that if I try to pull that tactic, and I say to my kids, all right, today, we're walking into ShopRite, or Costco, and we're buying the food that's on sale, they're going to look at me and say, great, Mom, then we will be dining on popcorn this week. So, you know. Kline: I understand the challenges. I understand when egg prices were high, and milk prices were high, that people can't make substitutions. But also, you just mentioned Costco. And Todd, isn't one of the inflation busters, can't you just go to Costco? They barely mark things up. And again, I don't want to downplay the person living paycheck to paycheck. I totally understand something's a little bit more money you're going to notice. But aren't there things you could do that are self-mitigating? Yeah. Campbell: mean, if you're struggling, trying to figure out how am I making rent, how am I making this, how am I paying this, you're not going to Costco and buying the supersized stuff and sticking it in the closet. You just can't afford a $200 grocery bill, right? You're literally going down and saying, where's my Ramen Pride? Where's my Kraft Mac and Cheese? It's like the old, I'm in my early 20s diet. So I think that, yeah, that's true. I mean, there's another side of the Costco expert, but this whole other side of thinking that Costco, you don't really end up saving money because you end up spending more than you would normally because you're buying all 13 pallets worth of toilet paper. Backman: I mean, I do think you end up saving money over time. But the point is, stores like Costco are actually very unfriendly to people living paycheck to paycheck because to get that savings, you have to have money to lay out for a larger quantity of product. And I mean, we all know that, sure, you can put it on a credit card, but then what you're going to pay in interest, you lose in the savings. So I think it really all goes back to the fact that people of a certain income level are just not going to have an easy time in this economy. Kline: No, it's really hard. And I mean, wages are growing faster than inflation, yay. That's good, right? I mean, that's actually good for the stock market too, right? Whenever incomes rise faster than inflation, it gives you discretionary income. Mortgage rates and housing prices offset that. I mean, things are great now if you don't need to buy a house or a car. A lot of things have come back to earth. But if you're locked into a 7% mortgage, now, Todd, I'm locked into the house I'm in because my mortgage was like three and a quarter, right before they say, we bought a house because we could see the writing on the wall. And more, I've fallen for that Costco thing. I may or may not own an eight-foot teddy bear and a kayak and a winter coat that I don't need here in Florida. Related: Marshalls, T.J. Maxx CEO shares big news for #MarshallsFinds fans Backman: I mean, no one's judging you, yeah. Kline: Or there may have been a time where Amazon sold me four pounds of toffee that I bought at like three in the morning because it was a good price. In my head, I think the toffee arrived much sooner than it did because I was hungry right then. But we're going to move on to one other topic that relates very much. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
4 hours ago
- Business
- Miami Herald
Bankrupt giant retail chain closes even more store locations
The retail sector has suffered from the liquidation of several iconic retail chains over the last two years as a series of economic challenges forced them to file for bankruptcy and close down their businesses. Inflation caused labor and product costs to rise over the last three years, and some retailers faced lease rates that were no longer sustainable. In addition to higher costs, retail chains battled other economic challenges, such as increased interest rates on debt and retail theft. Don't miss the move: Subscribe to TheStreet's free daily newsletter Huge party supply retailer Party City filed for Chapter 11 bankruptcy for the second time in two years on Dec. 21, 2024, seeking to wind down over 700 store locations in 2025. Related: Bankrupt giant retail chain closes its remaining locations Party City has not completely disappeared from the retail landscape yet, as 26 locally owned franchise stores still operate, according to the company's website. Big Lots filed for Chapter 11 protection on Sept. 9, 2024, seeking to sell its assets to Nexus Capital Management for a $760 million bid, but the deal collapsed by December 2024, prompting the home goods chain to liquidate all 1,392 of its stores. Big Lots agreed to a sale to Gordon Brothers Retail Partners on Dec. 27, 2024, that allowed the transfer of stores, distribution centers, and intellectual property to other retailers and companies, including a sale of up to 400 stores to Variety Wholesalers, which planned to reopen stores. Two other major retail chains filed for bankruptcy in 2025 to liquidate their assets and shut down, as fabric and crafts retailer Joann filed for Chapter 11 bankruptcy liquidation on Jan. 15, 2025, and teen apparel chain Forever 21, which struggled financially for years, filed for Chapter 11 for the second time in six years on March 16, 2025, to wind down and close over 350 stores. Image source: Elconin/Bloomberg via Getty Images Pharmacy chain Rite Aid filed for Chapter 11 bankruptcy for the first time on Oct. 15, 2023, and closed about 800 of its 2,100 stores in a reorganization. Related: Distressed haircare brand dealt major blow in filing bankruptcy The drugstore chain's surviving entity, New Rite Aid LLC, filed for Chapter 11 protection a second time on May 5, 2025, and began closing all of its stores, consisting of about 1,240 locations. More bankruptcy Major iconic food brand files for Chapter 11 bankruptcyPopular Dairy Queen rival franchisee files Chapter 11 bankruptcyPopular vision care chain files for Chapter 11 bankruptcy Rite Aid filed its 12th notice of additional store closing locations with the U.S. Bankruptcy Court for the District of New Jersey on July 18, seeking approval to close 17 remaining stores and liquidate their assets, which adds to previously designated locations for closing, for a total of 1,219 stores. The drugstore retailer has about 21 remaining locations and may file one or more additional store closing locations notices in the next few weeks before completely winding down operations. The debtor already filed its final location closing order on July 10. Rite Aid's 12th additional closing notice consists of store closures in six states, including Washington (10), New York (2), Oregon (2), Maryland (1), New Hampshire (1), and Ohio (1). Rite Aid already filed 12 notices of store closing locations with the original notice and an additional closing notice on May 9, followed by a second additional closing notice on May 15, a third additional notice on May 23, a fourth additional notice on May 30, fifth and sixth additional notices on June 6, a seventh additional notice on June 13, an eighth additional notice on June 20, a ninth additional notice on June 27, a 10th additional notice on July 3, and an 11th notice on July 11. The first 12 groups of store closings listed 1,202 locations in 15 states, including Pennsylvania (351), California (347), New York (173), Washington (81), New Jersey (61), New Hampshire (46), Oregon (33), Delaware (29), Virginia (25), Maryland (22), Connecticut (15), Idaho (7), Vermont (5), Massachusetts (4), and Ohio (3). Related: National fashion retailer files Chapter 11 bankruptcy, still open (for now) The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
6 hours ago
- Business
- Yahoo
Wag! Group Co. Announces Recapitalization Transaction with Retriever LLC
Initiates Chapter 11 Proceeding via Pre-Packaged Plan of Reorganization Operations Across Business Segments to Continue Without Interruption During Chapter 11 Process and Beyond SAN FRANCISCO, July 21, 2025 (GLOBE NEWSWIRE) -- Wag! Group Co. (the 'Company' or 'Wag!'; Nasdaq: PET), which strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household, today announced that it is pursuing a comprehensive balance sheet restructuring through a voluntary, pre-packaged Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware. The Company's primary secured lender, Retriever LLC (the "lender' or 'Retriever'), which constitutes the only voting class under the plan, has already voted to accept the pre-packaged plan of reorganization. The plan provides a clear and expeditious path to reduce debt, transition ownership of the Company to Retriever, and position the business for long-term success under private ownership. Under the terms of the plan, Retriever – currently the Company's primary secured lender – will assume ownership of the reorganized Company following court approval of the plan. As structured, the pre-packaged plan is designed to be implemented on an accelerated basis, with Wag! expecting to emerge from Chapter 11 within approximately 40 days. 'This process enables us to move forward with a clear plan and a strong partner who shares our vision for the future,' said Garrett Smallwood, CEO and Chairman of Wag!. 'Retriever's ongoing support—along with their long-term investment in our business—will provide the financial and operational flexibility we need to continue serving our customers while positioning our business for sustainable growth and long-term success. With a well-capitalized balance sheet post-emergence and additional capital to support future growth, we believe the Company will be well-positioned to thrive over the long-term.' To support operations during the process, the Company has secured a commitment for debtor-in-possession ('DIP') financing from its existing secured lender, Retriever LLC. This financing, combined with cash generated from ongoing operations, is expected to provide liquidity to meet business obligations throughout the court-supervised process. In addition, as part of the Company's reorganization plan, Retriever LLC has also committed to provide exit financing, further reinforcing the Company's path to a stable and well-capitalized emergence. The Company believes it will emerge with a strengthened financial foundation and the resources needed to execute on its long-term strategic priorities. The plan of reorganization is subject to approval by the U.S. Bankruptcy Court for the District of Delaware. Wag! believes it has a clear and executable path toward confirmation and emergence. Additional information regarding the Chapter 11 process, including court filings and related materials, will be made available at Advisors Wag! is represented by Young Conaway Stargatt & Taylor, LLP as restructuring counsel, Latham & Watkins LLP as corporate counsel and Portage Point Partners as restructuring advisor. Retriever is represented by The Tuhey Law Firm LLC and Honigman LLP as its legal counsel. About Wag! Group Co. Wag! Group Co. strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household. Wag! pioneered on-demand dog walking in 2015 with the Wag! app, which offers access to 5-star dog walking, sitting, and one-on-one training from a community of over 500,000 Pet Caregivers nationwide. In addition, Wag! Group Co. operates Petted, one of the nation's largest pet insurance comparison marketplaces; Dog Food Advisor, one of the most visited and trusted pet food review platforms; WoofWoofTV, a multi-media company bringing delightful pet content to over 18 million followers across social media; and maxbone, a digital platform for modern pet essentials. For more information, visit About Retriever LLC Retriever is a privately held company that provides lending and institutional support to pet related businesses. Forward Looking Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words 'anticipate,' 'expect,' 'suggests,' 'plan,' 'believe,' 'intend,' 'estimates,' 'targets,' 'projects,' 'should,' 'could,' 'would,' 'may,' 'will,' 'forecast' and other similar expressions are intended to identify forward-looking statements. These statements include those related to the pre-packaged plan of reorganization, continued operations across business segments without interruption during the Chapter 11 process and beyond, the path to reduce debt and position the business for long-term success, the assumption of ownership by Retriever, implementation of the pre-packaged plan of reorganization on an accelerated basis and the expected timing of emergence from Chapter 11, Retriever's ongoing support and investment, the Company's well-capitalized balance sheet and additional capital to support future growth, the Company's position over the long-term, DIP financing, expectations regarding liquidity to meet business obligations, exit financing, the path to emergence from Chapter 11, the Company's financial foundation and resources to execute on long-term strategic priorities. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: our expectation that our operations will continue following the commencement of the Chapter 11 proceedings; our ability to obtain approval from the bankruptcy court with respect to motions or other requests made to the court throughout the course of the Chapter 11 cases, including with respect to DIP and exit financing; potential risks associated with Chapter 11 proceedings; risks related to our indebtedness may restrict our current and future operations, and we may not be able to comply with the covenants in the DIP or exit loan facilities; employee attrition and our ability to retain senior management and other key personnel due to distractions and uncertainties related to the bankruptcy process; and substantial doubt regarding our ability to continue as a going concern. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's filings with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Contact Us Media: Media@ Investor Relations Wag!: IR@ Gateway for Wag!: PET@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
6 hours ago
- Business
- Associated Press
Wag! Group Co. Announces Recapitalization Transaction with Retriever LLC
Initiates Chapter 11 Proceeding via Pre-Packaged Plan of Reorganization Operations Across Business Segments to Continue Without Interruption During Chapter 11 Process and Beyond SAN FRANCISCO, July 21, 2025 (GLOBE NEWSWIRE) -- Wag! Group Co. (the 'Company' or 'Wag!'; Nasdaq: PET), which strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household, today announced that it is pursuing a comprehensive balance sheet restructuring through a voluntary, pre-packaged Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware. The Company's primary secured lender, Retriever LLC (the 'lender' or 'Retriever'), which constitutes the only voting class under the plan, has already voted to accept the pre-packaged plan of reorganization. The plan provides a clear and expeditious path to reduce debt, transition ownership of the Company to Retriever, and position the business for long-term success under private ownership. Under the terms of the plan, Retriever – currently the Company's primary secured lender – will assume ownership of the reorganized Company following court approval of the plan. As structured, the pre-packaged plan is designed to be implemented on an accelerated basis, with Wag! expecting to emerge from Chapter 11 within approximately 40 days. 'This process enables us to move forward with a clear plan and a strong partner who shares our vision for the future,' said Garrett Smallwood, CEO and Chairman of Wag!. 'Retriever's ongoing support—along with their long-term investment in our business—will provide the financial and operational flexibility we need to continue serving our customers while positioning our business for sustainable growth and long-term success. With a well-capitalized balance sheet post-emergence and additional capital to support future growth, we believe the Company will be well-positioned to thrive over the long-term.' To support operations during the process, the Company has secured a commitment for debtor-in-possession ('DIP') financing from its existing secured lender, Retriever LLC. This financing, combined with cash generated from ongoing operations, is expected to provide liquidity to meet business obligations throughout the court-supervised process. In addition, as part of the Company's reorganization plan, Retriever LLC has also committed to provide exit financing, further reinforcing the Company's path to a stable and well-capitalized emergence. The Company believes it will emerge with a strengthened financial foundation and the resources needed to execute on its long-term strategic priorities. The plan of reorganization is subject to approval by the U.S. Bankruptcy Court for the District of Delaware. Wag! believes it has a clear and executable path toward confirmation and emergence. Additional information regarding the Chapter 11 process, including court filings and related materials, will be made available at Advisors Wag! is represented by Young Conaway Stargatt & Taylor, LLP as restructuring counsel, Latham & Watkins LLP as corporate counsel and Portage Point Partners as restructuring advisor. Retriever is represented by The Tuhey Law Firm LLC and Honigman LLP as its legal counsel. About Wag! Group Co. Wag! Group Co. strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household. Wag! pioneered on-demand dog walking in 2015 with the Wag! app, which offers access to 5-star dog walking, sitting, and one-on-one training from a community of over 500,000 Pet Caregivers nationwide. In addition, Wag! Group Co. operates Petted, one of the nation's largest pet insurance comparison marketplaces; Dog Food Advisor, one of the most visited and trusted pet food review platforms; WoofWoofTV, a multi-media company bringing delightful pet content to over 18 million followers across social media; and maxbone, a digital platform for modern pet essentials. For more information, visit About Retriever LLC Retriever is a privately held company that provides lending and institutional support to pet related businesses. Forward Looking Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words 'anticipate,' 'expect,' 'suggests,' 'plan,' 'believe,' 'intend,' 'estimates,' 'targets,' 'projects,' 'should,' 'could,' 'would,' 'may,' 'will,' 'forecast' and other similar expressions are intended to identify forward-looking statements. These statements include those related to the pre-packaged plan of reorganization, continued operations across business segments without interruption during the Chapter 11 process and beyond, the path to reduce debt and position the business for long-term success, the assumption of ownership by Retriever, implementation of the pre-packaged plan of reorganization on an accelerated basis and the expected timing of emergence from Chapter 11, Retriever's ongoing support and investment, the Company's well-capitalized balance sheet and additional capital to support future growth, the Company's position over the long-term, DIP financing, expectations regarding liquidity to meet business obligations, exit financing, the path to emergence from Chapter 11, the Company's financial foundation and resources to execute on long-term strategic priorities. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: our expectation that our operations will continue following the commencement of the Chapter 11 proceedings; our ability to obtain approval from the bankruptcy court with respect to motions or other requests made to the court throughout the course of the Chapter 11 cases, including with respect to DIP and exit financing; potential risks associated with Chapter 11 proceedings; risks related to our indebtedness may restrict our current and future operations, and we may not be able to comply with the covenants in the DIP or exit loan facilities; employee attrition and our ability to retain senior management and other key personnel due to distractions and uncertainties related to the bankruptcy process; and substantial doubt regarding our ability to continue as a going concern. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's filings with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Contact Us Media: [email protected] Investor Relations Wag!: [email protected] Gateway for Wag!: [email protected]
Miami Herald
2 days ago
- Business
- Miami Herald
Popular beauty brand files for Chapter 11 bankruptcy
Beauty, skincare, and cosmetic product manufacturers have faced many of the same economic challenges that other retailers have in the last three years. Rising labor and product costs exacerbated by inflation, increased interest rates, cautious consumers who are watching their budgets in uncertain economic times, and fierce competition forced beauty brands to close and to file for bankruptcy. Don't miss the move: Subscribe to TheStreet's free daily newsletter Major cosmetics brand Avon filed for Chapter 11 bankruptcy in August 2024, two years after another huge brand, Revlon, filed for bankruptcy in June 2022. Related: National work clothing retail chain files Chapter 11 bankruptcy This year, beauty technology company Cutera filed for a prepackaged Chapter 11 bankruptcy on March 5 to reduce its debt by $400 million, and award-winning cosmetics company SBLA Beauty filed for Chapter 11 protection on March 11 to reorganize its business and restructure its debt. Telehealth company Hims & Hers Health shut down its acne treatment dermatology business, Apostrophe, on March 7 after buying the San Francisco-based company four years ago for about $190 million. Hims & Hers Health had another setback after forming a partnership with Novo Nordisk on the FDA-approved Wegovy obesity drug in April 2025. Novo Nordisk terminated the arrangement on June 23, 2025, over its concerns about Hims & Hers' "illegal mass compounding and deceptive marketing," according to a statement. Hims & Hers has not filed for bankruptcy at last check. Another skincare brand Futurewise Inc. also shut down its business as it discontinued orders on its website beginning March 24, 2025. Futurewise offered its skincare products Slug Boost, Slug Cream, Slug Balm, and Face Melt, which featured its "slugging" practice of skincare. Slugging appears to have arrived in the early 2010's with one of the first documented mentions of the term on a Reddit thread, the website said. The practice has since developed a cult-like following, Futurewise claimed. Futurewise products were also available at CVS stores, according to the skincare company's website. The skincare brand also has not filed for bankruptcy protection at last check. Popular beauty brand Essations filed for Chapter 11 bankruptcy to reorganize its business and restructure its debts on July 18. The Chicago Heights, Ill.-based personal products manufacturer and distributor, which was established in 1981, filed its petition in the U.S. Bankruptcy Court for the Northern District of Illinois, listing $100,000 to $500,000 in assets and $1 million to $10 million in debts. Related: Home Depot rival files Chapter 11 bankruptcy in distress The debtor's largest creditors include the U.S. Small Business Administration, owed $1.01 million; Nikolovski Properties, owed $115,000 in landlord claims; and the Internal Revenue Service, owed $53,000 for taxes in 2021. More bankruptcy: Major iconic food brand files for Chapter 11 bankruptcyPopular Dairy Queen rival franchisee files Chapter 11 bankruptcyPopular vision care chain files for Chapter 11 bankruptcy Other creditors include Emco Chemical Distributors, Kraft Chemicals, and Neves Global Resources. The debtor's Subchapter V petition indicated that funds would be available to distribute to unsecured creditors after administrative expenses are paid. Essation's products include a variety of haircare brands, including Essations Collection, Naked by Essations, Naked X by Essations, Textures by Naked, and Tea Tree Collection. Its haircare products include shampoos, conditioners, stylers, finishers, travel, and skin care and are available at over 170 haircare product dealers nationwide, according to its website. The company's haircare products address several hair needs, such as hair growth, volume, moisture, scalp care, hair repair, color-treated hair, frizzy hair, edges, detangling, detoxing, shine, and protein. Related: Popular pizza dining chain franchisee files Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
