Carol's Daughter Chapter 11
If you know natural hair care then you know Carol's Daughter. Founded in 1993 by Lisa price as she started mixing natural conditioners by hand. Price's stores' were built from her hard work and $100 cash that she had in her pocket from her first bankruptcy after owing over $10 million in back taxes. The product has been endorsed by celebrities such as Will and Jayda Pinkett Smith also Jay-Z; she has even been featured on Oprah's talk show as well. Price was seeing about a reported $2 million in sales and receiving 200 clicks daily on her website. After being featured on Oprah the site crashed after receiving a reported 17,000 Visitors within 10 seconds. The site was able to recover which took her to $20 million in brand. It was said that Carol's Daughter filed a chapter 11 bankruptcy for their stores due to the fact the stores, that were open were not bringing in revenue as they predicted it would. According to their papers filed it showed