Pine Cosmetic Inc. has voluntarily filed for Chapter 11 proceedings. The filing comes as demand for Korean skincare and cosmetics continues to grow in the U.S. market.
The Flushing-based company distributes Korean beauty products across the U.S. Its operations are expected to continue under court supervision.
Pine Cosmetic Inc. Seeks Chapter 11 Protection
Pine Cosmetic Inc. filed its petition with the U.S. Bankruptcy Court for the Eastern District of New York on July 17, 2026. Company president Kyung Hee Kang signed the petition prior to the submission.
The filing comes as Korean beauty brands continue to expand in the U.S. market. According to Circana, prestige retail sales of Korean brands increased 23% by value and 24% by volume in the country during the first quarter of 2026. The report also found that Korean skincare holds a 6% share of the U.S. mass retail market, with sales increasing 35% by value.
The company distributes Korean skincare brands to consumers and wholesale customers across the U.S. Case filings show the company operates Pine Beauty Mall, where it markets brands including La Noubelle and SOMISOME.
Case Related Details
Case records on PACER show that Pine Cosmetic Inc. is a small business debtor and that it is proceeding using Subchapter V. Such filings typically allow small businesses to complete their bankruptcy in a quicker and more cost-effective manner.
The records add that the company submitted a list of creditors with the largest unsecured claims. Some of these creditors include Chase Bank, Forward Financing LLC, PayPal Business Loan, and Lendistry.
Court filings indicate that funds will be available for distribution to the unsecured creditors.
Attorney John C. Kim of The Law Office of John C. Kim, P.C. is the legal counsel in the case.
A summary of the Chapter 11 petition is shared here:
- Filing Date: July 17, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Eastern District of New York
- Type of Filing: Active, Voluntary Petition
- Chapter: 11, Subchapter V
- Case Number: 1:26-bk-43461
- Estimated Assets: Between $100,001 and $500,000
- Estimated Liabilities: Between $1,000,001 and $10 million
- Estimated Creditors: 1-49
- Reason for Filing: Reorganize finances under court supervision
Rising Bankruptcies in the Beauty and Wellness Industry
Several beauty and personal care companies have filed for bankruptcy in recent months amid financial challenges.
Miyoshi America, Inc. entered Chapter 11 proceedings on April 27, 2026. Case filings showed that the subsidiary of Miyoshi Kasei, Inc. faced talc lawsuits and obligations to over 200 creditors. The Connecticut-based company also received approval to enter a debtor-in-possession loan agreement.
A century-old grooming and personal care company from Florida filed for bankruptcy in 2025. The petition submitted on November 26 showed that The Stephan Co. faced a large gap between its assets and liabilities. The parent company owns several brands, including Morris Flamingo, Appleton Barber Supply, Williamsport Bowman Barber Supply, and 614 Barber Supply.
Days before this, Valley of the Sun Cosmetics, LLC turned toward Chapter 11 protection. Case filings showed the skincare and haircare company from California aimed to reorganize its finances. Hollywood Style, Bee Organic, Romeo Juliet, Mochi Smooshi, and Spanish Garden are some brands covered by it.
Pine Cosmetic Inc.’s filing again outlines the continued financial pressures facing the beauty and personal care industry, even as consumer demand for K-beauty products remains strong.
