Cosmetics Giant Revlon Files For Chapter 11 Bankruptcy

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NEW YORK (AP) — Revlon, the 90-year-old multinational beauty company, has filed for Chapter 11 bankruptcy protection, weighed down by debt load, disruptions to its supply chain network and surging costs.

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The New York-based company said it expects to receive $575 million in financing from its existing lenders, which will allow it to keep its day-to-day operations running.

None of Revlon’s international operating subsidiaries are included in the proceedings, except for Canada and the United Kingdom. The filing was made in the U.S. Bankruptcy Court for the Southern District of New York,

Revlon, whose brands from Almay to Elizabeth Arden had been a mainstay on store shelves for decades, has struggled for years for failing to keep pace with changing beauty tastes and stiffer competition. It is backed by billionaire Ron Perelman’s MacAndrews & Forbes.


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Just Sayin'
Just Sayin'
1 year ago

The real reason is that many people of “nonprivileged” backgrounds have simply emptied these products off shelves at various stores.

Revlon could simply not keep up with these 100% off (in-store only) offers and filed for bankruptcy.

Conservative Carl
Conservative Carl
1 year ago

They shouldn’t #ChooseLove

sarah
sarah
1 year ago

commenters show their bigotry and ignorance with these responses. the real reason is because the younger generation no longer supports those brands. They are buying celebrity owned brands like Fenti and Kylie over these old brands. They are also increasingly aware of animal testing and animal products and choosing to purchase vegan or “not tested on animals” products.

Guilible Sam
Guilible Sam
1 year ago

Why can’t the taxpayers bail them out, just like we do for the corrupt airlines?