Glosslab LLC, the membership-based nail salon chain backed by roughly $20 million in celebrity and venture capital, filed for chapter 11 protection on December 23, 2024, in the U.S. Bankruptcy Court for the Southern District of New York. Founded in 2018 by former hedge fund executive Rachel Apfel Glass, Glosslab had scaled to approximately 21 locations across New York, New Jersey, Maryland, and Texas before a rapid contraction left only two Manhattan salons operating at the time of filing. The case moved quickly to a section 363 sale: Townhouse, a U.K.-based nail salon chain, acquired the two remaining locations for $425,000, while VD Brand Holdings Inc. purchased Glosslab's intellectual property for $100,000 — total recovery of $525,000 on $20 million in invested capital. The IP buyer has since relaunched Glosslab as a product-based lifestyle brand under new leadership.
U.S. Bankruptcy Court, Southern District of New York
Petition Date
December 23, 2024
Judge
Hon. Michael E. Wiles
Debtor's Counsel
Weinberg Zareh Malkin Price LLP
Total Funding Raised
~$20 million
363 Sale Proceeds
$525,000
Case Snapshot
From Hedge Fund to Hygiene-First Nail Salon
Rachel Apfel Glass, a Boston native with a Columbia Business School MBA and a decade of experience in hedge fund marketing and fundraising, founded Glosslab in 2018 after the birth of her second child. The concept was a waterless, membership-based nail studio with a hygiene-first model: all tools were single-use or hospital-grade sterilized, no pedicure bowls were used, and services were designed for speed — same-time manicures and pedicures in under 40 minutes.
Memberships ranged from $115 to $135 per month for unlimited services, depending on billing frequency. Glass self-funded the first two Manhattan locations — Flatiron and West Village — before raising external capital to fuel expansion.
$20 Million in Celebrity-Backed Funding
Glosslab raised approximately $3 million in seed funding in December 2020, led by a roster of celebrity and business investors including Sean Rad (co-founder of Tinder), Andy Stenzler (co-founder of Rumble Boxing), and Elliott Tebele (co-founder of FuckJerry). By May 2021, the round had expanded to over $7 million with additional participation from Olivia Culpo, The Chainsmokers, Amar'e Stoudemire (retired Knicks star), Jared Goff (Detroit Lions quarterback), Patrick Schwarzenegger, Mark Sanchez, and Michael Dubin (Dollar Shave Club founder).
By March 2023, Glass stated the company had raised roughly $20 million in total. At peak, Glosslab operated approximately 21 locations across four states with ambitions to reach 65.
Rent defaults. As the salon chain expanded, cash shortfalls mounted across locations. In February 2025, Acadia Realty Trust sued Glosslab over $102,263 in unpaid rent at a NoHo storefront at 640 Broadway, covering arrears from September 2023 through November 2024 — indicating the company had been unable to cover rent at that location for more than a year.
New York Post exposé. A March 2024 New York Post article detailed Glosslab's financial problems, the Coba legal fight, and allegations that the company employed unlicensed nail technicians. Company insiders described an operation marked by undisciplined spending. The entire corporate management team was let go. Glass stated in a court filing that the article accelerated the company's decline by damaging consumer trust and investor confidence.
The location-level LLCs represent Glosslab's geographic footprint at its peak: Manhattan (Flatiron, Tribeca, NoHo, Broadway), Bethesda Row (Maryland), Closter Market Place (New Jersey), Lovers Lane (Dallas, Texas), and Union Market (Washington, D.C.).
Townhouse acquires physical operations.Townhouse, a U.K.-based nail salon chain, purchased inventory, equipment, and leases for the Flatiron and Tribeca locations for $425,000. The acquisition marked Townhouse's entry into the New York market — the company had previously operated one Los Angeles salon with a second in progress. Townhouse co-founder Jonathan Millet stated the company aimed to reach 12 to 15 U.S. locations within 12 to 18 months. The two locations were temporarily rebranded as "Glosslab by Townhouse" before closing for renovations and reopening under the Townhouse brand.
VD Brand Holdings acquires intellectual property. VD Brand Holdings Inc., owned by entrepreneur Adam Weitsman, purchased Glosslab's intellectual property for $100,000 — the brand name, trademarks, and associated IP. This transaction separated the Glosslab brand from its physical salon operations.
Combined proceeds totaled $525,000 on roughly $20 million in invested capital.
From Salon Chain to Product Brand
VD Brand Holdings relaunched Glosslab as a product-based lifestyle brand in early 2026, appointing Elizabeth Woods as President and her daughter Jordyn Woods as Chief Creative Director. Former Revlon executive Martine Williamson joined as Chief Marketing Officer.
Rachel Apfel Glass founds Glosslab in Manhattan's Flatiron district
December 2020
Glosslab raises $3 million in seed funding from celebrity investors
May 2021
Funding round expands to over $7 million with Culpo, Stoudemire, Goff, The Chainsmokers, and others
March 2023
Total funding reaches ~$20 million; European Wax Center co-founder Joshua Coba joins as partner and acquires Florida locations
March 2024
New York Post publishes article detailing financial problems, Coba lawsuit, and unlicensed technician allegations
February 2025
Acadia Realty Trust sues over $102,263 in unpaid rent at NoHo location (arrears from September 2023 through November 2024)
December 23, 2024
Glosslab LLC and 9 affiliates file chapter 11 in the Southern District of New York
~March 10, 2025
Court approves 363 sales: Townhouse acquires two salons for $425,000; VD Brand Holdings acquires IP for $100,000
Early 2026
VD Brand Holdings relaunches Glosslab as product brand with Elizabeth and Jordyn Woods
Spring 2026
Planned launch of Glosslab multiuse beauty product line
Frequently Asked Questions
When did Glosslab file for bankruptcy?
Glosslab LLC and nine affiliated entities filed voluntary chapter 11 petitions on December 23, 2024, in the U.S. Bankruptcy Court for the Southern District of New York under lead case number 24-12399.
Why did Glosslab file for chapter 11?
Glosslab's filing followed overexpansion from two self-funded Manhattan locations to approximately 21 locations across four states, funded by roughly $20 million in investor capital. Cash shortfalls led to rent defaults at multiple locations, and the company faced a legal dispute with European Wax Center co-founder Joshua Coba over a defaulted loan. Glass stated in a court filing that a March 2024 New York Post article detailing financial problems and allegations of unlicensed technicians accelerated the company's decline.
How much did Glosslab's assets sell for?
The court approved two 363 sale transactions totaling $525,000: Townhouse acquired the two remaining Manhattan salon locations (Flatiron and Tribeca) for $425,000, and VD Brand Holdings Inc. acquired Glosslab's intellectual property for $100,000. This represented a 97% loss on the approximately $20 million raised from investors.
Who were Glosslab's celebrity investors?
Glosslab's investor roster included Olivia Culpo, The Chainsmokers, Amar'e Stoudemire (retired NBA star), Jared Goff (Detroit Lions quarterback), Sean Rad (co-founder of Tinder), Patrick Schwarzenegger, Mark Sanchez, and Michael Dubin (founder of Dollar Shave Club).
Is Glosslab still in business?
The Glosslab brand was acquired out of bankruptcy by VD Brand Holdings Inc. and relaunched in early 2026 as a product-based lifestyle brand, with Elizabeth Woods as President and Jordyn Woods as Chief Creative Director. The physical salon locations were acquired by U.K.-based Townhouse and now operate under the Townhouse brand. Glosslab no longer operates nail salons.
Who is the judge in the Glosslab bankruptcy case?
Hon. Michael E. Wiles of the U.S. Bankruptcy Court for the Southern District of New York is presiding over the Glosslab chapter 11 case.
VD Brand Holdings Inc. https://wwd.com/beauty-industry-news/beauty-features/glosslab-comeback-lifestyle-brand-elizabeth-jordyn-woods-1238685718/
waterless, membership-based nail studio https://www.foxbusiness.com/lifestyle/membership-nail-salon-disrupts-industry-waterless-hygiene-focused-manicures-pedicures
$3 million in seed funding in December 2020 https://www.glossy.co/beauty/glosslab-raises-3-million-in-seed-funding/
May 2021, the round had expanded to over $7 million https://www.prnewswire.com/news-releases/glosslab-the-hygiene-first-waterless-and-membership-based-nyc-manicure-studio-operator-taps-more-big-name-influencers-and-investors-to-expand-raise-to-over-7m-for-omnichannel-expansion-301284379.html
roughly $20 million in total https://www.franchisetimes.com/franchise_insights/franchise-founders-learn-lessons-the-hard-way/article_108f3b60-5bb5-11ee-b4d5-ff994fc5845e.html
European Wax Center co-founder Joshua Coba backed Glosslab https://www.prnewswire.com/news-releases/european-wax-center-co-founder-joshua-coba-backs-glosslab-with-eyes-on-nationwide-expansion-301775158.html
defaulted on a loan from Coba https://narrative-news.com/nyc-nail-salon-glosslab-files-for-bankruptcy/
sued Glosslab over $102,263 in unpaid rent https://www.crainsnewyork.com/real-estate/acadia-realty-trust-sues-glosslab-over-unpaid-rent-noho-storefront
filed as a group of ten affiliated debtor entities https://www.bkalerts.com/recent-bankruptcy-cases/new-york-southern-bankruptcy-court/1:24-bk-12400/bankruptcy-case-glosslab-ip-llc
March 10, 2025, the court approved two purchase agreements https://wwd.com/beauty-industry-news/beauty-features/glosslab-chapter-11-bankruptcy-asset-purchase-agreements-1237028019/
This article was researched and written with AI assistance, using court filings, public records, and news sources. AI-generated content can contain errors. Verify all information against primary sources before relying on it. This is not legal or financial advice. See the disclaimer.