Carol’s Daughter Files for Bankruptcy; Denies Brand is in Trouble

Carol's Daughter Files for Bankruptcy

According to a report in The Wall Street Journal, the urban beauty products brand Carol’s Daughter filed for bankruptcy protection from its creditors. Carol’s Daughter founder Lisa Price disputes the report.

The Wall Street Journal reports that CD Stores LLC, formerly known as Carol’s Daughter Stores LLC, filed for Chapter 11 bankruptcy in Manhattan bankruptcy court.

Carol's Daughter Files for Bankruptcy

CD Stores LLC is wholly owned by parent company Carol’s Daughter Holdings LLC, which didn’t file for bankruptcy. The bankruptcy petition, which reported assets and debts in the $1 million to $10 million range, was signed by Carol’s Daughter Chief Financial Officer John D. Elmer.

In a new court filing on Thursday, Mr. Elmer said the company closed all but two of its seven stores and terminated 29 of its 42 employees. But the products are still carried in over 2,000 other retail stores in the U.S.

Elmer said the standalone stores had been profitable until 2010.

Carol’s Daughter’s benefitted from relationships with celebrities such as Will Smith, Jada Pinkett Smith, Cassie, Mary J Blige, Jay Z, and Solange Knowles. The stars happily promoted the beauty products, and the brand was also featured on Oprah.

Carol’s Daughter founder Lisa M. Price sent a personal letter to UPTOWN magazine denying her brand was in trouble.

“Carol’s Daughter is still going strong after twenty-one years and the future has never looked brighter,” she wrote.

Carol's Daughter Files for Bankruptcy



 


34 Responses to “Carol’s Daughter Files for Bankruptcy; Denies Brand is in Trouble”

  1. 1

    she caint be broke w/them high arse prices :no:

    but if’n she aint gone make it…

    :warning: somebody get Fay on the line… this her chance! :kona:

  2. 2
    Yardgirl says:

    The line is a bit pricey and with other cheaper options out there I am not surprised that they could be in trouble. :shrugs:

  3. 3
    OpinionHated says:

    My hairdresser told me all you need is Pantene regular ole original Pantene – and you know what she was right – I love the product….. never tried Carol’s Daughter – thought the name was hella stupid….

    I’m all for supporting black businesses when they make sense but for some reason I just never checked this one out…..

  4. 4

    It’s cause she sold out to those corporate entities and started using corn oil in her recipies. Saw the dollar signs and started doing things to appeal to our cousins, but she didn’t know our cousins don’t require as much lotion as our brothas and sistas do – LOL…

    Now she’s coming home to roost.

  5. 5

    Now she’s coming home to roost.

    _________________

    we don’t want her back :nono:

    j/k :hahaha:

  6. 6
    Sandra Rose says:

    I guess she thought no one would notice a bankruptcy filed by something called “CD Stores, LLC”. :coffee:

  7. 7

    Sandra Rose says:

    I guess she thought no one would notice a bankruptcy filed by something called “CD Stores, LLC”. :tea:

    _____________________________

    so i guess she’ll be serving WSJ with papers for blatantly misrepresenting her company’s status, huh? :tea:

  8. 8
    Who Dat says:

    Cassie
    ^^^^^^^^^^
    She walked around with half her head bald for 15 years. :shrug:

    This would make ME think the product MIGHT not do a good job. IJS. :shrug:

  9. 9
    CHA CHA says:

    @ KDUBB…is that a Carol Daughter prerequisite that shaved head shyt…JADA’s snatch was cute tho :yes:

  10. 10
    Ni ni says:

    That name alone is such a turn off. Maybe she should try to revamp. Get rid of that name and lower the cost. I have nt heard any non celeb say the product was any good.

  11. 11
    Uyanda says:

    I blame Usher. For bringing Justin Bieber to the black folk side and dropping him off. Shoulda let JT sign him sir. Next time consult Rev Al Sharpton or somebody. I think we should have a black people meeting and vote etc like Cam’ron said about Nick.

    by Who Dat on May 2, 2014 at 8:10 am
    =====================================

    :rofl: this gave me so much life…. :hahaha:

    “She ain’t realised that our cousins don’t require much lotion as we do” :hahaha: :dead:

  12. 12
    Crickett says:

    The retail stores are closing, and in stores like Macy’s. The overhead was too high, which is understandable because her stores was more elaborate than the Body Stores. Instead of just closing she bankrupted it, which is separate from her distribution brand. She is not broke, she is rearranging. Carol’s Daughter will be in Target soon, just had to get rid of the mall stores to do it.

  13. 13

    :think: hmmmm… are some of the roses sipping on more than auntie’s tea this friday afternoon? :tea: :lol:

  14. 14
    Uyanda says:

    These negros need some Fay Fay :love: in their lives!

  15. 15
    Yardgirl says:

    Her product has nothing over Fayla’s whipfinity!!:bow: Whipfinity is the real deal!! :danban1:

  16. 16
    Yardgirl says:

    :bow: whipfinity

  17. 17
    Uyanda says:

    Maaayne, Fay be like “no Bey, YOU bow down” the way her hair products be good! :bow:

  18. 18
    missyJ says:

    Donald Trump done filed bankruptcy 50-11 times…. She obvious has some good Jewish accountants on her side :coffee:

  19. 19
    missyJ says:

    Kerry Washington gave birth y’all. Like weeks ago… she’s good on that sneaky tip Assomungo (<- yeah I know) but watch out.

  20. 20

    I’ve seen CD in Target already.

    If she was smart she would have never opened that many stores, but rather stayed exclusive to small boutiques, shops and online vendors.

    Greed will get you caught up every time :spank:

  21. 21
    Uyanda says:

    I mean wasn’t it just yesterday, we celebrated the day that Fay strolled to Jesus tomb and said, “Aight wake up my nigga, time to grease that head” ? These negros need some Whipfinity in their lives!

  22. 22

    He’s handsome… I’d keep him secret too! I wonder what their pre-nup looks like?

    Y’all think he’s going to be a stay at home Mitch, I mean dad?

  23. 23
    Thando says:

    OFF TOPIC:

    Sandra, former Priminister Goron Brown is on the case of the Nigerian girls. The Guarian News paper says:

    Brown attacked the international media for being slow to report the mass abduction. “I’m absolutely shocked at the failure of the international media to take up this issue – including, for several days, the Guardian.” The Guardian first reported the story on 15 April.

    Children, said Brown, should “not be afraid of having to go to school in the face of terrorism”. He added that schools should be protected places, like hospitals, under the auspices of the UN or Red Cross.

    The former prime minister said he had approached the British government to discuss the possibility of military assistance. Asked if he anticipated a positive response, he said: “I think people will want to help, yes.”

    Stressing the urgency of locating the kidnapped girls, Brown told the Guardian: “The international community must do something to protect these girls. We could provide military help to the Nigerians to track down the whereabouts of the girls before they’re dispersed throughout Africa – like air support, for example, if that was thought necessary.”

    I just copied and pasted some important bits.

  24. 24
    Thando says:

    ***Guardian Newspaper

  25. 25
    Atypical says:

    I bought some hair milk when I first went natural. It was expensive af and it’s performance was ok, not bad, not great just ok… Really that’s all I remember about the hair milk was the price. There so many hair care products out here I would imagine you would have to have competitive pricing to sray a float..

  26. 26
    bnatural says:

    I think that Carol’s Daughter was hot when it initially hit the scene but other Natural Hair small business popped up and offered better products with a cheaper price tag.

    Couple that with the fact that Carol’s Daughter seemingly moved away from the needs of their base to become more commercial and I can see why they are filing for bankruptcy.

    I never tried any of their products, always heard that it wasn’t all that great and the prices kept me away. I’m not a product junkie anyway. :shrug:

  27. 27
    eastpointvet says:

    as many emails as i get from CD i think they are doing well

  28. 28
    whatdoesitmatter says:

    Maybe she should try lowering her prices. Especially since most naturals can make their own products at home.

  29. 29
    ricanlbc says:

    HI all….

    I was lurking …and HAD to log in on this one. I remember when she was NOONE trying to make a name for herself. She used to run a tiny ad in the back of Essence Mag, and I tried her Hair Milk in her very early days. Since she has went global…..her formula has changed. The hair milk is …..NOT WHAT IT WAS. The prices are way overpriced, and anytime you produce in mass amount….the product is bound to change!

    I was in Macys yesterday in Queens,NY and the line is being discontinued! I was able to get HAIR MILK spray (didnt know she made this), for $4.50.EVERYTHING WAS 75% OFF! The lady says Carols Daughter lost there contract with Macy’s die to poor sales. So I am sorry LISA.,….were on too you! You got greedy, your a multi-millionare and cant manage your money!!!! MIXED CHICKS WORKS WAY BETTER. #DAMNSHAME
    You were REDEEMED with that Target contract ($$$$$$), but guess what?

  30. 30
    Roc says:

    I’ve used the body butters, etc. i enjoy the smell and the products worked for me. I never used the hair products.

    I’m just amazed that people would say they never used the product because they thought the name “Carol’s Daughter” was stupid. Really? Like Pantene makes sense.

  31. 31
    SummerBaby says:

    I remember when she was NOONE trying to make a name for herself. She used to run a tiny ad in the back of Essence Mag, and I tried her Hair Milk in her very early days. Since she has went global…..her formula has changed. The hair milk is …..NOT WHAT IT WAS. The prices are way overpriced, and anytime you produce in mass amount….the product is bound to change!
    ——————
    :cosign:

  32. 32
    Twilight says:

    She is very over priced and i myself loved it when she was selling her stuff curbside on the tables in Flatbush ave in Brooklyn. The product changed since she went Hollywood. I know Brad Pitt said he uses CD products in his daughter’s hair. Wonder what he will use now. Lots of woman are going natural so Carols Daughters now have lots of competion. Shea Moisture is the bomb.

  33. 33
    Yardgirl says:

    Twilight says:

    Shea Moisture is the bomb.

    +++++++++++++++++++++++++++++++

    Hells yeah, Shea Moisture is the real deal, they cater to all of our hair types AND you can get it at most drug stores!! Walgreens always has buy 1 get 1 free or at least 1/2 off second :yes:

  34. 34
    OpinionHated says:

    @ Roc – I said the name sounded hella stupid – I didn’t say I didn’t use it cause of the name… I’m amazed my comment elicited that statement…. lighten up….

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