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Beauty Giant Revlon Formally Files For Bankruptcy

This is sad to report, but the biggest make up company has filed bankruptcy. The 90 year beauty brand has filed a new court document, it was confirmed that Revlon has officially filed for Chapter 11 bankruptcy, citing an overwhelming debt and surging costs.

Once the bankruptcy filing is approved by the court, Revlon says it hopes to receive $575 million in financing from its current lenders—which is the only solution to keep its day-to-day operations running. Revlon President & CEO Debra Perelman, spoke about the bankruptcy, saying “Today’s filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth.”

I wonder does this have anything to do with Rhianna's Fenty brand killing the the game???

Creamy make up products - top view of decorative cosmetic containers isolated on white backgroiunds

Photo: Getty Images


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