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Beauty company cancels auction a day ahead of its sale.
January 26, 2026
By: Melissa Meisel
A day ahead of being up for public auction, Pat McGrath Labs has cancelled its sale and filed for Chapter 11 bankruptcy, according to reports. The company’s financials are being managed by Hilco Global.
“During this process, the company will continue operations in the ordinary course of business while working to restructure its balance sheet and to forge a path to thrive,” Pat McGrath said in a statement.
The auction was to be held via Zoom video conference with an option to appear in person, as reported in Happi.
Although her brand might be in transition right now, Dame Pat McGrath made some Happi headlines in 2025.
Happi International Top 30 company LVMH entered the beauty market with a new makeup brand, La Beauté Louis Vuitton. Pat McGrath served as its creative director.
This was Louis Vuitton’s first entry into cosmetics since introducing fragrances in 2022 and powder compacts, brushes and mirrors in the 1920s. McGrath was chosen to serve as the creative director for her work backstage at Louis Vuitton fashion shows for over 20 years.
In other news, she also rolled out a limited edition line with video game Candy Crush at Ulta, as reported in Happi.
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