Cosmetics Company Pat McGrath Labs Files for Bankruptcy

news.law January 29, 2026

Pat McGrath Labs is no longer exploring an asset sale. As AFROTECH previously reported, Pat McGrath Labs — sold at Sephora and Ulta Beauty and owned by Pat McGrath, a British beauty and makeup veteran and now creative director of La Beauté Louis Vuitton cosmetics line — was exploring an asset sale. Managed by Hilco Global, a U.S.-based financial services firm, bids were due Jan. 26, 2026, with an auction scheduled for Jan. 27.

Founded in 2015, the goal was for the beauty company, valued at more than $1 billion in 2018, to “align its financial framework with the enduring strength and creative leadership of the brand” with partners through restructuring and recapitalization processes, Modaes reported.