A second Walmart partner has now filed for unexpected bankruptcy after only four years in business.
Hello Bello launched in 2019 exclusively at Walmart locations, the chain’s website, and the Hello Bello website.
The company, which sells premium baby diapers at an affordable rate for all, has now filed an unexpected Chapter 11 bankruptcy.
“Founded by parents Kristen Bell and Dax Shepard, along with Sean Kane (co-CEO), Jay McGraw (co-CEO), and Jennifer Pullen (CFO & COO), the complete line of products is designed to give every parent access to high-quality, better-priced everyday essentials that are better for babies, budgets and the planet,” the company shared on a press release.
Hello Bello has reached a deal to be sold and has filed for Chapter 11 bankruptcy protection to make that happen.
“Hello Bello has reached a deal to be purchased by Hildred Capital Management, a healthcare-focused private equity firm that seeks opportunities to create value in middle-market companies,” reports TheStreet.
“To facilitate the acquisition, Hello Bello and its affiliates have filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware.
The Company is seeking approval of the proposed transaction pursuant to section 363 of the United States Bankruptcy Code, which will subject the proposed transaction to higher or otherwise better offers,” the company shared in a press release.
“Given macroeconomic trends, including inflation and increased shipping costs, we believe that this course of action is the best path forward to ensure that Hello Bello continues to bring families the highest quality and most environmentally friendly products at affordable prices,” said CEO Erica Buxton.
The company says it expects to continue running operations as normal during the bankruptcy proceedings.
Other Economy News Today
A massive retailer is now making an unexpected comeback as it relaunches for the month of October.
Sears, which has closed most of its U.S. retail stores, is making a major full-time comeback in Burbank, per new reports.
“According to an October 18th report from CoStar.com, the once-mighty retail force is arising at the Burbank Town Center,” says Joel Eisenberg.
“The location, at 111 E. Magnolia Blvd., is a three-story longtime Sears that closed in December 2022 but hinted at reopening earlier this year.
The Burbank reopening comes as other big-box retailers plot a comeback, though they face stiff competition from both online and brick-and-mortar sellers.
Gabe Kadosh, a retail property broker and vice president of Colliers said, “I could see this being as a test to reopen in other markets with this type of store.”
“If merchandised correctly, it could do well.”
Sears, Roebuck and Co. commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail ordering catalog company migrating to opening retail locations in 1925, the first in Chicago.
In 2005, the company was bought by the management of the American big box discount chain Kmart, which upon completion of the merger, formed Sears Holdings.
Through the 1980s, Sears was the largest retailer in the United States. After several years of declining sales, Sears’s parent company filed for Chapter 11 bankruptcy on October 15, 2018.
As of June 21, 2023, there are 11 total Sears stores remaining, with 10 in the mainland US and one location in the US territory of Puerto Rico.
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