High Attrition Pushes Skin Care Co. NPG Into Ch. 11

Law360, New York (January 29, 2010, 1:09 PM EST) -- Citing high attrition rates and the economic downturn, botanical skin care products maker Natural Products Group LLC has filed a prepackaged Chapter 11 plan that includes a debt-for-equity swap that would reduce the company's debt by about 80 percent.

NPG, the holding company for California-based skin product makers Arbonne International LLC and Levlad LLC, lodged a voluntary petition, first-day motions and the prearranged reorganization proposal Wednesday in the U.S. Bankruptcy Court for the District of Delaware.

NPG Chief Financial Officer Mark Lehman issued an affidavit listing...
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