The Good Glamm Group is dismantling its unified house-of-brands model, chief executive officer Darpan Sanghvi said in a public note on July 23, citing deepening financial stress and unsuccessful restructuring trials. The content-to-commerce conglomerate will now sell its brands individually. CEO Sanghvi confirmed that lenders have begun enforcing charges on the individual brands under the group, and the company will be restructured through separate brand sales rather than a group-wide resolution.“Our lenders have decided to enforce their charge on the individual brands under the Good Glamm Group,” Sanghvi wrote in a letter published on LinkedIn. “What this means is that there will no longer be a group-wide solution which will allow all the brands to continue under a single umbrella. The brands will be sold one by one, and will operate individually. There will be new individual owners for each of the different brands.”Good Glam Group to cease 'house-of-brands' modelIn the three-part note, Sanghvi took full responsibility for the collapse of the group's strategy.“Is this what I hoped for? No. Is this unexpected? To be honest, also No. Is this the right of the lenders? Yes. And as the founder, this is on me,” he said. “The decisions, the choices that didn’t work, the risks that didn’t pay off… I understand, just saying ‘I’m sorry’ is not enough. I take responsibility, and responsibility isn’t just about reflection; it has to be about commitment.”Good Glamm Group Lays Off 15% Workforce In Profitability Quest Ahead Of IPO. Read more on Business by NDTV Profit.