December 20, 2018 / 10:24 PM / 5 months ago

Glansaol in Ch. 11 as in-store and TV sales of cosmetics sag

Cosmetics and personal-care products company Glansaol Holdings Inc has sought bankruptcy protection with a plan to quickly sell itself, blaming a decline in business from customers drifting away from shopping in stores and over cable TV’s QVC home-shopping network.

Increased shopping online that has been taking customers from bricks-and-mortar retailers and from home-shopping networks has hit Glansaol hard, subjecting it a “steep and unanticipated cut back in orders,” Chief Executive Nancy Bernardini said in a filing with the company’s Chapter 11 petition on Wednesday in U.S. Bankruptcy Court for the Southern District of New York.

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