Cosmolab parent company files for bankruptcy protection
The parent company of Cosmolab, a cosmetics factory in Lewisburg, has announced that it's petitioned the U.S. Bankruptcy Court in Delaware for protection from creditors as it financially reorganizes itself.
The Wednesday afternoon announcement from Specialty Packaging Holdings Inc. came from the business' offices on Garrett Parkway and said the color cosmetics manufacturer and sister companies "will continue to conduct business as usual during the Chapter 11 proceedings while they undertake to sell their assets."
The companies "have sought emergency relief to ensure the continued payment of employee wages and benefits and the ability to honor existing customer programs," according to the one-page, four-paragraph press release.
A more complete story will appear in the Friday edition of the Marshall County Tribune.