Cosmetics giant Revlon files for Chapter 11 bankruptcy protection
Revlon Inc (NYSE: REV) filed for bankruptcy after the cosmetics giant as it buckled under debts, which built up in efforts to compete with online-focused upstarts
By Arghyadeep Dutta
Published - Jun 16, 2022, 12:09 PM ET
Last Updated - Mar 04, 2024, 08:38 AM EST
• Company has secured $575 million in debtor-in-possession financing from its existing lender base
• Cosmetic giant filed for Chapter 11 bankruptcy protection with about $3.8 billion in debt
Revlon Inc (NYSE: REV) filed for bankruptcy after the cosmetics giant as it buckled under debts, which built up in efforts to compete with online-focused upstarts.
The 90-year-old company filed for Chapter 11 in the US Bankruptcy Court for the Southern District of New York on Wednesday evening, with about $3.8 billion in debt.
