Japanese Creditors File Stila Corp Involuntary Bankrupy
NEW YORK (Reuters) - Three Japanese companies filed an involuntary bankruptcy petition against trendy cosmetics company Stila Corp in a Delaware court, saying it failed to pay its debts, according to court documents. The creditors listed in the filings made on Wednesday are cosmetics makers Tokiwa Corporation, JO Cosmetics Co and Nihon Kolmar Co, all based in Japan. Together they list claims for sale of goods totaling $812,448. Stila, which has a cult following for its trendy lipgloss and eyeshadow products, is owned by private equity firm Patriarch Partners. It was once owned by Estee Lauder (EL.N) and was sold to Sun Capital in 2006, which sold it to Patriarch this year.
18 June 2009•1 min read
