The owner of hair care brand VO5, High Ridge Brands, has filed for bankruptcy.
The US-based company intends to complete the sale process under Section 363 of the Bankruptcy Code.
The decision will not affect the company's UK business.
Patricia Lopez, High Ridge Brands’ CEO and President, said the decision was made in order to support the company's stronger brands.
She said: “Following a thorough review of the options available to us, we have made the decision to execute a court-supervised sales process in order to maximise the value of our strong brands.
“As we move forward, we remain focused on our mission of crafting extraordinary experiences for savvy customers through our hair care, skin cleansing and oral products.”
She continued: “We are committed to minimizing the impact on our employees, customers, vendors and other stakeholders throughout the sales process, and we thank them for their ongoing support.”
As well as VO5, High Ridge Brands is the owner of personal care brands Zest, Thicker Fuller Hair, Dr. Fresh, SGX NYC and Zero Frizz.
