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Revlon ‘preparing bankruptcy filing this week’

Revlon is preparing to file for chapter 11 bankruptcy protection as soon as this week, according to financial media reports.

The Wall Street Journal reported the cosmetics giant has held talks with lenders ahead of a looming deadline to finance debt repayments of around $1.7 billion.

The company is also struggling with stiff competition in the cosmetics business, as well as inflation and supply-chain pressures, it said.

Revlon is owned by billionaire Ron Perelman’s MacAndrews & Forbes private equity firm.

A bankruptcy filing could end Perelman’s control of Revlon since 1985.

As of 13 June, Revlon’s share price has fallen to $1.80 from around $16 a year ago.

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Upcoming Events

8th Anti-Ageing Skin Care Conference

Royal College of Physicians, London
29 - 30 November 2022

76th Annual Scientific Meeting & Showcase

JW Marriott LA Live, Los Angeles, California
12 - 14 December 2022

PCHi China 2023

The China Import and Export Fair Complex, Guangzhou
15-17 February 2023

in-cosmetics Global 2023 - Barcelona

Fira Barcelona Gran Via
28 - 30 March 2023

Access the latest issue of Personal Care Magazine on your mobile device together with an archive of back issues.

Download the FREE Personal Care Magazine app from your device's App store

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