The company is down to $6 million in cash and struggling to fulfill retail customer orders. Without access to raw materials, Revlon cannot meet sales demands, leaving the company with dwindling cash. Revlon will retain about $300 million of the initial bankruptcy loan for day-to-day business. Revlon Inc got to chapter 11 court endorsement to … Read more
Revlon, reported long-term liabilities of $3.3 billion in the first quarter. The company initiated Chapter 11 proceedings to manage its debt. In the US, Chapter 11 allows firms to restructure themselves; while being protected from creditors. Revlon, famed for its distinctive nail paint and lipstick, filed for Chapter 11 bankruptcy protection; claiming that its debt … Read more
The company has lost shelf space in US stores to celebrity-backed startups, and it has struggled with inflation and supply chain concerns. Revlon narrowly avoided many previous defaults by striking out-of-court settlements with creditors to renegotiate its obligations. After struggling to compete with online-focused startup firms in recent years, cosmetics manufacturer Revlon Inc has filed … Read more
Revlon had long-term debt of $3.31 billion, as of end-March, and faces stiff competition from digital-native upstart brands. The lipstick maker began talks with lenders ahead of looming debt maturities to try to steer the business clear of bankruptcy. Revlon, whose shares declined 46%, did not immediately respond to a Reuters request for comment. Beauty … Read more
