Makeup Brand Revlon headed towards Bankruptcy...?

Revlon, once the world's leading maker and maker of cosmetics, is now in the throes of a debt crisis. Revlon, America's leading beauty product maker, is reportedly preparing to file a Chapter 11 report to protect itself from bankruptcy within the next week. Wall Street Journal has confirmed this. In Friday's trading, Shares of Revlon traded down just 52.76 percent which is just $ 2.05. In 2022 alone it has fallen by about 82.42 percent, which is seen as a huge loss for Revlon investors.
Revlon which is a pioneer in lipstick production, is in talks with lenders to secure bonds in order to protect from bankruptcy. Revlon has $ 3.31 billion long-term debt. Demand for this specialty has grown significantly as a result of recent corporate scandals and the return to normalcy in many parts of the world.
In this scenario, unable to cope with the wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital advertising and also more competition of new brands in the market, Revlon is constantly losing business. High level of debt and bankruptcy also added to it. An extension of this is the  In the past, Revlon was the top cosmetic brand that gives top-class makeup kits.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

revlon bankruptcy

Sowmiya Sriram

12/06/2022 06:06 PM