According to report, SNR Capital has taken ownership of inclusive retailer Thirteen Lune following an insolvency process that left many brand partners unpaid. Despite no legal obligation, SNR Capital has committed to repairing relationships with affected brands and developing tailored financial solutions. “We are looking at creating bespoke solutions on a brand-by-brand basis so these brands have an opportunity to be made whole,” said Conor Riley, principal at SNR Capital.
Thirteen Lune’s insolvency process, initiated on December 16, 2023, involved transferring assets to a third party for liquidation after attempts to sell the company failed. With $5.1 million in debt held by CPG lending platform Settle, the process yielded no cash for creditors. SNR Capital assumed the debt and took control of the retailer.
Founded in 2020 by Nyakio Grieco and Patrick Herning, Thirteen Lune positioned itself as a hub for brands led by Black and brown founders. It secured $12.5 million in funding from celebrity investors such as Gwyneth Paltrow and Sean Combs. Grieco remains involved, while Herning has exited. Despite early enthusiasm from its brand partners, the company’s financial struggles and delayed payments left many disillusioned about its future.
Riley acknowledges these concerns but emphasizes SNR Capital’s efforts to stabilize operations and rebuild trust. “Slow and steady growth is what we are looking for,” he said. Over the next few weeks, he plans to reach out to 150 partner brands to resolve outstanding issues.
Under SNR Capital’s ownership, Thirteen Lune will retain its inclusive positioning and its flagship store on Larchmont Boulevard in Los Angeles. Riley also hinted at potential shop-in-shops beyond its partnership with J.C. Penney, where Thirteen Lune expanded to over 600 locations with a streamlined roster of brands.
SNR Capital is affiliated with The PCA Companies, a firm with a history in fragrance distribution and logistics, and recently acquired the U.S. wholesale arm of Space NK. Riley revealed plans to explore up to 20 beauty deals in 2025, aiming to support niche and innovative brands.
