Consumer
Celebrity-Backed Nail Salon Glosslab Files Bankruptcy
- Glosslab’s celebrity backers include Olivia Culpo, Jared Goff
- The company said it intends to sell two remaining locations
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Glosslab LLC, a New York City-based nail salon chain that experimented with a membership-based business model and attracted celebrity investors, has filed bankruptcy.
The company and its corporate affiliates sought court protection Monday in New York and seeks to sell what remains of the business to VD Brand Holdings Inc., according to court documents. Glosslab CEO Rachel Apfel Glass said in a court filing that the business struggled after a rapid expansion, as well as the March publication of a New York Post article detailing financial problems and a legal fight with European Wax Center founder Joshua Coba, who lent the business money.