Revlon

Cosmetics firm seeks Chapter 11 bankruptcy protection amid high debt and stagnant sales.

The company’s debt load proved burdensome, especially after it sold more than $2bn of loans and bonds to fund its acquisition of Elizabeth Arden in 2016. Revlon said in a statement that it has lined up $575m of so-called debtor-in-possession financing from existing lenders to fund itself during bankruptcy. “We don’t know whether folks are going to want to challenge that transaction,” Paul Basta, a bankruptcy attorney for Revlon, said during the company’s first Chapter 11 hearing. “Consumer demand for our products remains strong — people love our brands, and we continue to have a healthy market position. It also inadvertently embroiled Citigroup after the bank helped arrange the deal, and later mistakenly paid some creditors nearly $900m while intending to process a routine interest payment. At issue is a disputed asset transfer largely in 2020, which saw Revlon stave off default by cutting a deal with lenders that moved collateral out of other creditors’ reach.

Indian conglomerate Reliance Industries is considering buying out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy, ...

Reliance and Revlon did not immediately respond to Reuters' requests for comment. It has already established a foothold in telecom and retail sectors. Reliance and Revlon did not immediately respond to Reuters' requests for comment.

Indian conglomerate Reliance Industries is considering buying out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy, ...

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Revlon's problems only intensified with the pandemic as lipstick gave way to a new era in fashion, this one featuring medical-grade masks.

It now holds the 22nd spot among cosmetics makers, according to a recent ranking by fashion trade journal WWD. In the latest quarter that ended in March, Revlon’s sales rose nearly 8%, but still lag pre-pandemic levels in excess of $2.4 billion a year. The Johnny Depp-Amber Heard defamation case and its verdict have been publicly presented as a resounding victory for Depp and confirmation of his 'objective' truth. Revlon went public in 1996. #MeToo is a movement that dared to collectivize suffering, empathy, and perhaps hope. The progress is slow, the resistance to recognition and redress of sexual harassment in the workplace is high, but across India, the tide might just be turning

Indian conglomerate Reliance Industries may buy out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy, ET Now reported on ...

Revlon went public in 1996. In the latest quarter that ended in March, Revlon's sales rose nearly 8%, but still lag pre-pandemic levels in excess of $2.4 billion a year. There may be more corporate restructurings in the consumer products sector ahead with the threat of a recession and the rising costs of borrowing money.

With fears that a recession is looming, there could be more defaults on the way for U.S. companies as the macroeconomic environment sours, warns S&P Global.

Indeed, New York-based cosmetics company Revlon filed for Chapter 11 bankruptcy on Thursday, one of the first major companies to do so amid a global slowdown in corporate default activity. With fears that a recession is looming, there could be more defaults on the way for U.S. companies as the macroeconomic environment sours, S&P Global warns. Revlon Has Declared Bankruptcy. Are More Defaults on the Way?

The report comes as Revlon filed for bankruptcy earlier this week after global supply chain disruptions drove up raw material costs and prompted vendors to ...

It has already established a foothold in telecom and retail sectors. Reliance was up 1.9% in the Mumbai market. Reliance has pushed its way into the fashion and personal care space in recent months as it diversifies away from its mainstay oil business.

Private equity financier Ronald Perelman bought the beauty-products company in 1985; his daughter, Debra, is its CEO.

Now he faces losing control of the cosmetics business as it confronts a heavy debt load, inflation and supply-chain pressures, and competitive threats. Mr. Perelman bought Revlon in 1985 and built a reputation for always riding to its rescue when its future looked bleak, often through rescue loans or cash infusions. Cosmetics giant Revlon has filed for bankruptcy, likely ending a decades-long bet on the beauty products company by Ronald Perelman, its billionaire controlling shareholder.

Revlon had filed for bankruptcy earlier this week after disruptions in the global supply chain drove up raw material costs and impelled vendors to ask for ...

Revlon had filed for bankruptcy earlier this week after disruptions in the global supply chain drove up raw material costs and impelled vendors to ask for upfront payments. However, the company failed to keep up with changing consumer tastes over time. #MeToo is a movement that dared to collectivize suffering, empathy, and perhaps hope.

Reliance Industries is considering buying out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy, business channel ET Now ...

It has already established a foothold in telecom and retail sectors. Reliance was up 1.9 per cent in the Mumbai market. Shares of Revlon jumped 20 per cent to $2.36 in premarket trade following the report.

Once a cosmetics juggernaut, Revlon on Thursday filed for bankruptcy to manage its debt, which it said stood between $1-10 billion.

The company expanded its business internationally in 1955. It was only in 1935 that the company advertised for the first time. It was in the New Yorker Magazine. In 2013,: the company acquired the Colomer Group and reunited it with its professional products division. Revlon launched ColorStay Lipstick as the first non-transfer lipstick in 1991. Revlon introduced lipstick into the product portfolio in 1939 for the first time and promoted it

Revlon Inc. shares surged as much as 62% in New York trading after ET Now reported that Reliance Industries Ltd. is considering buying the cosmetics giant.

Revlon has filed for chapter 11 bankruptcy to allow the company to strategically reorganize and improve its longterm outlook.

Today, Revlon has grown to include cosmetics, skincare, fragrance and personal care. "Consumer demand for our products remains strong -- people love our brands, and we continue to have a healthy market position. "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," said Debra Perelman, Revlon's president and chief executive officer in a statement.

The billionaire financier's holding company is a shadow of its former self without the cosmetics business he bought in 1985.

Revlon Inc received bankruptcy court approval to borrow $375 million on Friday, saying it would use the funds to shore up supply chain problems that would ...

Register now for FREE unlimited access to Reuters.com Judge Jones deferred potential fights over the loan terms, saying that he would allow junior creditors to raise objections before giving final approval to the loan. "That will play a big role in how customers think about resetting store shelves for next year," Caruso said in court. Without access to raw materials, Revlon cannot meet sales demands, leaving the company with dwindling cash to solve its supply problem, Caruso added. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

The 245% four-day surge by Revlon Inc., which filed for bankruptcy after amassing massive amounts of debt amid rampant competition, recalls another wild ...

The 245% four-day surge by Revlon Inc., which filed for bankruptcy after amassing massive amounts of debt amid rampant competition, recalls another wild ...

Revlon filed for bankruptcy after sales of its cosmetics line dropped significantly during the pandemic and didn't rebound as expected.

Revlon filed for bankruptcy after sales of its cosmetics line dropped significantly during the pandemic and didn’t rebound as expected. Cosmetics maker Revlon files for bankruptcy