October 1, 2022
Revlon prepares to file for bankruptcy amid supply chain woes and debt load

Cosmetics company Revlon is preparing to file for Chapter 11 bankruptcy as soon as next week as it battles supply chain problems and a heavy debt load, sources say.

Talks about the potential filing are not final and could change, the sources said, discussing private negotiations. A representative for Revlon declined to comment.

New York-based Revlon, owned by billionaire Ron Perelman’s MacAndrews & Forbes, struggled against competition from Estee Lauder and a host of smaller companies using social media to lure customers.

Revlon’s chief executive Debra Perelman said in a May call to discuss quarterly results that demand for the company’s products was strong, but “supply chain challenges are putting pressures on our ability to meet this demand” and inflation was denting margins.

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