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Cosmetics giant Revlon files for bankruptcy
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Cosmetics giant Revlon files for bankruptcy

Cosmetics company Revlon files for bankruptcy. Revlon Inc. has filed for Chapter 11 bankruptcy protection.

Where: United States

The Facts

Having succumbed to rising debt, online competition, and supply chain problems, cosmetics maker Revlon has filed for bankruptcy.
Revlon has filed for Chapter 11 bankruptcy protection.
The lipstick and nail polish maker plans to receive $575 million in debtor-in-possession financing from its existing lenders, allowing Revlon to continue operations.
A court filing by Revlon states that the company’s liabilities lie somewhere in the region of $1 billion to $10 billion.
Revlon CEO Debra Perelman stated, “By addressing these complex legacy debt constraints, we expect to be able to simplify our capital structure and significantly reduce our debt, enabling us to unlock the full potential of our globally recognized brands.”

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