Sat. Oct 1st, 2022
According to persons familiar with the situation, cosmetics company Revlon Inc is planning to file for Chapter 11 bankruptcy protection as soon as next week. Revlon's shares fell 46 percent and the company did not immediately reply to a Reuters request for comment. According to the WSJ, the lipstick producer has begun negotiations with lenders ahead of upcoming debt deadlines in an attempt to keep the company from going bankrupt. As of the end of March, Revlon had $3.31 billion in long-term debt.

According to persons familiar with the situation, cosmetics company Revlon Inc is planning to file for Chapter 11 bankruptcy protection as soon as next week.

Revlon’s shares fell 46 percent and the company did not immediately reply to a Reuters request for comment.

According to the WSJ, the lipstick producer has begun negotiations with lenders ahead of upcoming debt deadlines in an attempt to keep the company from going bankrupt.

As of the end of March, Revlon had $3.31 billion in long-term debt.

By adele rose

Adele Rose is the senior editor and employee of WGBS Pvt Ltd Digital wing.

Leave a Reply

Your email address will not be published.