THE WHAT? Morphe has announced that it is closing all of its US stores for good, according to a report published by Bloomberg.
THE DETAILS The make-up brand’s owner, Forma Brands is also rumored to be considering filing for bankruptcy, per Bloomberg quoting an article in Women’s Wear Daily. Forma declined to comment on the potential Chapter 11 when approached by Bloomberg.
THE WHY? Forma Brands published a statement on its website revealing that it was closing bricks and mortar locations to better enable it to focus on e-commerce.