Friday , August 19 2022

A chain of well-known beauty products and personal care states bankruptcy


A new brand will be added to the long list of companies that have gone bankrupt or have disappeared in recent months, as the beauty products chain "The Republic of Beauty" goes no further.

Trob Spa, who operated the brand "The Republic of Beauty", announced last Friday that they had asked for voluntary liquidation.

Recall that the company led by Jaime Ben-Dov Codner has had financial losses since it started in 2012, according to a note by Third.

The chain of beauty and personal care products currently has 20 shops mainly distributed in shopping centers between Antofagasta and Puerto Montt, where around 150 people work.

According to Copesa's media, the request was made as there are no resources to resolve the company's financial obligations.

Trob Spa, the Republic of Beauty operator, accumulates debts of around 3,500 million pesos, despite the investments made by the ISSi Group, which deals with several retail brands.

According to a document submitted by the company in the 17th Civil Court of Santiago, they are "in an economically unfeasible situation".

The above is in accordance with the same document given by Third, since "The size of the current liabilities against the company's limited assets, together with the inadequate commercial activity makes it impossible to stabilize the company's financial position".

Cover image: Web brand

Source link