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Towson cosmetics company sold after bankruptcy

Towson cosmetics company sold after bankruptcy

Towson-based cosmetics company Mallygirl has been sold to Beauty Visions LLC for $10 million to cover its debts amid its bankruptcy, according to court filings. Despite $30 million in sales in 2014, Mallygirl, whose primary clients are television shopping channel QVC and cosmetics store ULTA, was having financial difficulties and missed regular loan payments to Essex Bank, according to filings in Baltimore's U.S. Bankruptcy Court. The company owes the bank about $8.9 million in loans, interest and late charges. In April, four of the company's creditors forced Mallygirl into a Chapter 7 bankruptcy, claiming more than $2.2 million in debts. The case was subsequently converted to...