THE WHAT? Mana Products has furloughed employees as the contract manufacturer evaluates potential paths for the business.
THE DETAILS Industry sources indicate the furloughs follow an attempted sale that is believed to have fallen through. While declining to comment on “rumors or speculation,” Mana’s CEO said the company is working with its stakeholders as it considers a range of strategic options. The move raises further questions about the firm’s operational footing and near-term direction.
THE WHY? The development reflects mounting pressure on contract manufacturers as dealmaking slows, cost structures tighten and investors reassess the resilience of long-established beauty manufacturing players.
Source: WWD
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