Kristen Bell and Dax Shepherd have suffered a business setback.
Their baby products company, Hello Bello, has filed for bankruptcy as it prepares to be sold to new owners.
The author of The World Needs More Purple Schools, 43, and her husband Bless This Mess, 48, founded the baby products company in 2019.
Hello Bello’s diapers, wipes and other baby supplies are sold at Walmart, Target, Kohl’s and Albertson’s.
The company decided to file for bankruptcy after losing the battle to overcome high shipping and production costs Fortune.
Bankruptcy: Hello Bello, the baby products company founded by Dax Shepherd, 48, and Kristen Bell, 43, has filed for bankruptcy (pictured in Austin, Texas in March)
Chapter 11 typically allows owners to keep a business alive while it reorganizes.
The company tried to weather some of the setbacks by building its own diaper factory in Texas, but was unable to turn the business around.
A company press release stated that the bankruptcy and upcoming sale is “the best path forward to ensure Hello Bello continues to provide families with the highest quality and most environmentally friendly products at affordable prices.”
A private equity firm, Hildred Capital Management, has offered to buy the company for $65 million dollars.
According to court documents, the bid set the stage for other bids.
Hello Bello listed assets and liabilities of at least $100 million each in its bankruptcy filing on Monday.
In 2020, it had gross sales of approximately $100 million.
Bell and Shepherd launched the company with the goal of eliminating “the choice many parents have to make: deciding between what’s best for their children and what’s best for their budget,” according to the Hello Bello website.
Costs: The company, which makes diapers, baby shampoos and laundry detergent, decided to file for Chapter 11 bankruptcy after losing its battle to overcome high shipping and production costs
The couple, parents to daughters Lincoln, 10, and Delta, eight, launched the company in 2019 with the aim of eliminating “the choice many parents have to make – deciding between what’s best for their children and what’s best for their budget.” ‘
No comment: Neither Shepherd nor Bell have commented on the bankruptcy proceedings
The couple are parents to daughters Lincoln, 10, and Delta, 8, and launched the company after having children and noticing how expensive baby supplies can be.
Hello Bello is also committed to sustainability practices.
The website says it produces diapers on machines that use 50 percent less energy than standard, uses detergent bottles made partly from sugarcane resin, and contains the products in environmentally friendly cardboard.
Neither star has commented on the bankruptcy on social media.
Bell can currently be heard on the big screen in PAW Patrol: The Mighty Movie as Janet, the co-owner of J&H Metal Scrapyard, alongside James Marden’s Hank.
Box office success: Bell can currently be heard on the big screen in PAW Patrol: The Mighty Movie as Janet, the co-owner of J&H Metal Scrapyard, alongside James Marden’s Hank. the film has earned over $192 million worldwide
The film also features the voices of Serena Williams, Kim Kardashian and North West.
The animated adventure has done well at the box office, debuting in the top spot when it opened on September 29.
Since then, the film has earned over $56 million domestically and over $192 million worldwide Box Office Mojo.
Interestingly enough, Shepherd leant his voice to 2021’s PAW Patrol: The Movie as villain Ruben.