FULLBEAUTY Brands Enters And Exits Bankruptcy In 24 Hours

FULLBEAUTY Brands, a women’s plus-size direct-to-consumer retailer, won court approval for its restructuring plan less than 24 hours after the company filed for Chapter 11 bankruptcy, according to Bloomberg. FULLBEAUTY will cut approximately $900 million of its $1 billion debt to reduce interest payments and help the company turn itself around.

The deal hands over ownership of the retailer to a group of lenders that includes Oaktree Capital Management, Goldman Sachs & Co. and Clearlake Capital Group. All three lenders will appoint one person to the company’s board, and previous owner Apax Partners will appoint…