Adwoa Beauty faces liquidation after a judge converted its Chapter 11 bankruptcy protection to Chapter 7. Saks Global aims for a significant turnaround following its own Chapter 11 filing.
Adwoa Beauty filed for Chapter 11 bankruptcy in October 2025. The company, founded in 2017 by Julian Addo, has been stocked in major retailers like Sephora, Cult Beauty, and Amazon. However, the recent ruling indicates an impending liquidation.
Saks Global, which filed for Chapter 11 bankruptcy in January 2026, plans to emerge with nearly $700 million in liquidity. The company anticipates achieving $9 billion in total gross merchandise value by fiscal year 2030.
Despite this optimistic outlook, Saks Global expects to report a net loss of $135 million for fiscal year 2026. The company has also reduced its workforce by 16% of its corporate staff as part of its restructuring efforts.
Geoffroy van Raemdonck, CEO of Saks Global, stated, “The committed capital we have secured, along with the growing momentum across our business, sets the stage for a successful future.” He emphasized the company’s focus on long-term growth.
This situation reflects broader challenges in the luxury retail sector. Both companies are navigating difficult market conditions while seeking to stabilize their operations.
Observers are keen to see how these developments will unfold as both companies move forward with their respective plans. The next steps for Adwoa Beauty remain uncertain as it prepares for liquidation.
