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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

SCSS Suppliers Day - SINGAPORE

SINGAPORE MARRIOTT TANG PLAZA HOTEL
Thursday 25th & Friday 26th August 2022

32nd IFSCC Congress

Park Plaza Hotel, Westminster
19-22 September 2022

in-cosmetics Latin America 2022

Expo Center Norte, Sao Paulo
21 - 22 September

Cosmetorium 2022

Palau de Congressos de Barcelona
28 - 29 September

SEPAWA 2022

Estrel Congress Center, Berlin
26 - 28 October

in-cosmetics Asia 2022

BITEC Bangkok, Thailand
1 - 3 November 2022

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

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

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