Tori Belle has filed for Chapter 11 bankruptcy.

BehindMLM
previously reported Tori Belle filing for Chapter 11 bankruptcy
in August 2022.

That filing pertaining to parent company LashLiner, which technically is a separate entity. Practically speaking though, both LashLiner and Tori Belle are the same entity run by the same people.

The courts recognized this and so we just classified LashLiner and Tori Belle as one and the same.

It took a year, but nonetheless we now have Tori Belle itself having filed for Chapter 11.

A Profit and Loss Statement filed with Tori Belle’s bankruptcy reveals an $456,867 operational loss as April 2023.

Tori Belle claims to have $4.6 million in assets, $4.5 million of which is unsold inventory.

On June 26th Tori Belle filed a motion seeking permission to sell off its assets.

Tori Belle filed this proceeding because continued operations have not been profitable and a sale in bulk of most of its assets while operating will generate a greater return than a wholesale liquidation.

Tori Belle’s assets consist of :

• Tori Belle web sites and content

• Sales and marketing collateral

• Product data

The buyer of the assets was
Kannaway
.

Tori Belle, subject to Court approval, has entered into a multi-party Assets and Inventory Purchase and Licensing Agreement, between LashLiner, Tori Belle; Laura Hunter and Bob Kitzberger, on one hand, with LashLiner and Tori Belle collectively referred to as “Sellers,” and Kannaway USA, LLC, on another hand as a “Buyer.”

Kannaway was prepared to purchase certain Tori-Belle non-inventory assets for $1.5 million.

In exchange, Tori Belle would receive

10% of monthly gross sales by Buyer of Tori Belle products across all Buyer’s markets worldwide, payable monthly (the “Sales Override”) and will receive proceeds from the monthly consigned sales of its Inventory at Cost.

I don’t know what agreement Tori Belle and Kannaway have already entered into, but I do note that Kannaway’s products are currently available through Tori Belle:

Following a hearing on July 7th, the court denied Tori Belle permission to sell its assets to Kannaway.

I’m not really sure what this means for Tori Belle going forward. I figured CEO Laura Hunter would have addressed the new bankruptcy, as she did the original bankruptcy last year.

Tori Belle did host a live on its FaceBook page on June 16th, the same day Tori Belle filed for Chapter 11.

In the video though Hunter didn’t address Tori Belle’s bankruptcy. The bankruptcy wasn’t addressed the following week either (Hunter seems to host a live Tori Belle broadcast once a week).

It’s unclear whether Tori Belle distributors have been informed of recent developments regarding the business.

To differentiate between Tori Belle’s two bankruptcies, I’ll be referring to the original one as the LashLiner bankruptcy going forward.

On LashLiner’s bankruptcy, the court-appointed Trustee filed a motion requesting LashLiner’s Chapter 11 be converted to a Chapter 5 o

🤖 Quick Answer

What is Tori Belle's current financial situation regarding bankruptcy?
Tori Belle filed for Chapter 11 bankruptcy, following a similar filing by its parent company LashLiner in August 2022. Financial documents reveal an operational loss of $456,867 as of April 2023. The company claims $4.6 million in assets, with $4.5 million consisting of unsold inventory, indicating significant liquidity challenges and dependence on inventory value.

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