The beauty industry has faced economic challenges and financial distress over the last five years since the Covid-19 pandemic temporarily derailed most retail industries.
Companies have dealt with rising labor and product costs exacerbated by inflation, increased interest rates, cautious consumers who are watching their budgets in uncertain economic times, and fierce competition.
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Some of the biggest names in the beauty business suffered from the Covid-19 fallout and filed for bankruptcy protection, including Revlon, which filed for Chapter 11 bankruptcy in June 2022, and Avon, which filed for Chapter 11 bankruptcy in August 2024.
Related: Popular local Dairy Queen rival files for Chapter 11 bankruptcy
Beauty technology company Cutera filed for a prepackaged Chapter 11 bankruptcy on March 5, 2025, to reduce its debt by $400 million, and award-winning cosmetics company SBLA Beauty filed for Chapter 11 protection on March 11, 2025, to reorganize its business and restructure its debt.
Also, telehealth company Hims & Hers Health shut down its acne treatment dermatology business, Apostrophe, also on March 7, 2025, after buying the San Francisco-based company four years ago for about $190 million.Â
The company, however, did not file for bankruptcy protection.
Beauty brands shut down operations
Hims & Hers transitioned away from the Apostrophe brand and encouraged patients to try its brand’s treatment options, the company revealed on its website.
Another skincare brand Futurewise Inc. revealed that it discontinued orders on its website beginning March 24, 2025.
“Goodbye for now,” the skincare brand wrote on its website. “After a lot of thought, we have made the hard decision to sunset Futurewise.
Futurewise, which offered its skincare products Slug Boost, Slug Cream, Slug Balm, and Face Melt, for its “slugging” practice of skincare, also did not file for bankruptcy.
In addition to skin care products, spa services for weight loss, non-surgical body improvements, slimming, and toning are also a major part of the beauty industry.
One beauty service chain in Tuscaloosa, Ala., faced severe financial issues, filed for bankruptcy, and closed its business.Â
Medical spa Body Oasis filed for bankruptcy on Nov. 6, 2024, and shut down all of its operations, reportedly leaving customers in limbo, ABC-33/40 News reported.
Contour Spa files for bankruptcy protection, facing significant debt obligations.
Image source: Getty/TheStreet
Contour Spa files for bankruptcy protection
Finally, national spa services chain Contour Spa LLC filed for Chapter 11 bankruptcy protection to reorganize its business, facing significant debt obligations.
Related: Huge auto parts company files for Chapter 11 bankruptcy
The Orlando, Fla.-based company filed its petition in the U.S. Bankruptcy Court for the Middle District of Florida on June 11, while at least 23 affiliates filed their petitions the following day.
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The debtor listed $500,000 to $1 million in assets and $1 million to $10 million in liabilities in its petition, including over $562,000 owed to Lanco Equities, over $344.000 owed to Kash Advance LLC, over $339,000 owed to Formentera Capital Group, over $377,000 owed to Liberta Funding LLC, and over $239,000 owed to American Express.
The company has authorized CEO Roger A. Farwell to seek approval of a debtor-in-possession financing agreement, according to RK Consultants.
Contour Spa offers its Cryo Slimming sessions using its slimming and toning protocols designed to reduce cellulite, tighten skin, achieve permanent fat loss, and minimize stretch marks.Â
The spa service also offers its Cryo Facials, which can be obtained for free through its $99 introductory offer, according to its website.
