The New York-based beauty retailer seeks bankruptcy protection to reorganize while listing assets of $100,000 to $500,000.
Pine Cosmetic Inc., a U.S. retailer specializing in Korean skincare products, filed for Chapter 11 bankruptcy protection on July 17. The company listed assets between $100,000 and $500,000 and debts ranging from $1 million to $10 million in its petition filed in the Eastern District of New York.
The company, which operates brands including Pine Beauty Mall and LeBody USA, plans to reorganize and continue operations. Its largest unsecured creditors include Chase Bank, owed over $229,000, and CESC-Covic EIDL Servicers, owed over $218,000. No specific reason was provided for the filing.
Pine Cosmetic, incorporated in 2013, stated it will maintain normal operations during the restructuring process. Its e-commerce platform remains active as of the filing date.