Natural Products Group files Chapter 11
This article was originally published in The Rose Sheet
Executive Summary
Parent company of Nature's Gate personal-care products and skin-care direct seller Arbonne International filed for Chapter 11 bankruptcy Jan. 27 in the U.S. Bankruptcy Court of Wilmington, Del. Natural Products Group announced a "pre-packaged" restructuring plan that will allow the firm to emerge from bankruptcy in approximately 60 days, as well as reduce its debt obligations by more than 80% and "enhance the company's financial position." The process will not have an impact on day-to-day operations of the firm and its subsidiaries, it says. Annual revenue for the Irvine, Calif.-based private firm totals $451 mil., including $378 mil. from Arbonne and $73 mil. from Levlad Inc., which owns Nature's Gate