Kristen Bell’s baby products company Hello Bello files for bankruptcy protection
Baby products company Hello Bello, founded by actors Kristen Bell and Dax Shepard, has filed for Chapter 11 bankruptcy protection.
The Los Angeles-based company, backed by private equity firm VMG Partners, listed assets and liabilities of at least $100 million each in its bankruptcy petition. The filing protects the company from creditors while it works out a way to repay them.
In 2019, Bell and Shepherd, who are married, launched the brand alongside a deal to sell the products exclusively at Walmart, according to a statement at the time. Hello Bello joins other consumer companies such as Bed Bath & Beyond that have buckled this year as the pressure of inflation and high interest rates persists.
Bed Bath & Beyond filed for bankruptcy protection, but its stores and websites will remain open and continue serving customers.
The brand’s largest creditor is a tissue products supplier that may be owed about $22 million, according to court papers.
