Hello Bello, the venture-backed diaper and baby care company founded by celebrities Kristen Bell and Dax Shepard, filed for Chapter 11 bankruptcy on Monday. The filing is a high-profile symbol of the struggles many buzzy consumer-focused startups have faced from dealing with belt-tightening by shoppers and increases in digital marketing costs.
Hello Bello has lined up a $65 million bid from the healthcare-focused private equity firm Hildred Capital to buy the company out of bankruptcy, one person said, although other firms could submit bids as well. A sale could give the brand a chance to rebound—Hildred intends to continue operating the company, according to a person familiar with the matter. Hildred will end up as the buyer if no other deal emerges.
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