ALLOU IN DISTRESS: Allou Healthcare Inc. has consented to an involuntary bankruptcy court petition filed against the firm by three lenders in a Brooklyn federal bankruptcy court, and said it has hired Richard A. Sebastiao as chief restructuring officer. The lenders — Congress Financial, Citibank and LaSalle Business Credit — forced Allou into bankruptcy court after discovering that the distribution firm’s assets and inventory were insufficient to satisfy their claims, which total at least $67.7 million. Allou saw more than $80 million in inventory destroyed in a warehouse fire. The firm is not implicated in the fire and it is suing some of its insurers, seeking more than $100 million.

CALLING ALL ENTRIES: The Independent Cosmetic Manufacturers and Distributors Association is soliciting entries for its eighth annual Cosmetic Entrepreneur Awards for Leadership. Awards will be presented to manufacturers, distributors and suppliers of componentry and/or services to the cosmetics industry during ICMAD’s 30th annual meeting and dinner on June 5 in New York. The entry deadline is April 21 and forms can be obtained at icmad.org or by calling (800) 334-2623.

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