Kristen Bell and Dax Shepard‘s diaper and baby care brand, Hello Bello, is filing for bankruptcy.
The actors, who share two daughters, founded the company in 2019 with the goal of providing high-quality products at affordable prices for parents.
Erica Buxton, the chief executive officer of Hello Bello, explained the decision to file for Chapter 11 (a type of bankruptcy) in a press release.
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“Given macroeconomic trends, including inflation and increased shipping costs, we believe that this course of action is the best path forward to ensure that Hello Bello continues to bring families the highest quality and most environmentally friendly products at affordable prices,” Erica said.
The filing buys the company some time to repay creditors.
Hello Bello will be acquired by Hildred Capital Management, a private equity firm that focuses on the healthcare industry.
In August, Dax got real about his daughters’ future sex lives.
