27.01.2026 13:40
Pat McGrath Labs, one of the brands that comes to mind when luxury cosmetics are mentioned worldwide, has filed for Chapter 11 bankruptcy protection in the Southern District of Florida, USA. The famous brand's products were also sold in Turkey.
Pat McGrath Labs, known for its prestigious cosmetic products worldwide, filed for Chapter 11 bankruptcy protection in the Southern District of Florida. According to court records, the company reported estimated debts and assets between $50–100 million in its filing on January 22. The filing requested urgent payments of $426,402 for suppliers and $689,324 for employee salaries and entitlements.
REACHED A VALUATION OF OVER 1 BILLION DOLLARS
The brand celebrated its 10th anniversary in October 2025. The company, which reached a valuation of over $1 billion with a $60 million investment from private equity firm Eurazeo in 2018, faced investor exits and a loss of value in the following period; it was announced that some investors' stakes had lost 88% of their value and they planned to exit their portfolios in 2025.
SALE PROCESS POSTPONED INDEFINITELY
The bankruptcy filing came immediately after the company planned to sell its assets through an auction, and this sale process has been postponed indefinitely. The brand's move is being evaluated in light of the challenging conditions in the global luxury cosmetics market and changing consumer demands.
WAS ALSO SOLD IN TURKEY
Pat McGrath Labs products were previously available in various retailers and online sales channels in Turkey, and the brand had reached a wide customer base worldwide.