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On Tuesday, US-based financial firm GDA Luna announced a $30 million investment into makeup artistry label Pat McGrath Labs, weeks after the brand filed for bankruptcy.
A Miami, Florida bankruptcy court approved the transaction, which injects $10 million in new debtor-in-possession financing into the brand and commits an additional $20 million in post-emergence working capital, according to a statement. GDA Luma will hold a controlling interest upon exit; founder Pat McGrath will retain a…
