Thursday, February 2, 2023
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

Revlon Files for Chapter 11 Bankruptcy Protection

in News
Revlon files for chapter 11 bankruptcy protection
Share on FacebookShare on Twitter

Revlon filed for Chapter 11 bankruptcy protection as the cosmetics giant is suffering from a debt load and a clogged supply chain.

According to the bankruptcy filing, Revlon is currently unable to fill demand since the company does not have “sufficient and regular supply of raw materials.” Also, shipping components from China to the U.S. are taking eight to 12 weeks and its costs are four times higher compared to 2019 prices.

The filing “will allow Revlon to offer the iconic products we have delivered for decades, while providing a clearer path for our future growth,” Revlon President and CEO Debra Perelman said in a press release. “Our challenging capital structure has limited our ability to navigate macro-economic issues in order to meet this demand.”

The cosmetics firm listed assets and liabilities between $1 billion and $10 billion. The company said it expects to receive $575 million in debtor-in-possession financing from its lender base to support its day-to-day operations.

Perelman’s MacAndrews & Forbes acquired Revlon in a hostile takeover for about $1.8 billion in 1985 and the company went public in 1996.

Revlon had long-term debt of $3.31 billion as of March 31. The company’s sales lagged over the years and in 2021 fell 22% compared to its 2017 levels.

Tags: Chapter 11Revlon

Related Posts

Tinder owner to lay off 8% of its staff as growth falters
News

Tinder owner to lay off 8% of its staff as growth falters

Biden moves to slash u. S. Credit card fees, app charges
News

Biden moves to slash U.S. credit card fees, app charges

Intel slashes employee, exec pay amid pc market downturn
News

Intel slashes employee, exec pay amid PC market downturn

Payments firm paypal to lay off 7% of its workforce to cut costs
News

Payments firm PayPal to lay off 7% of its workforce to cut costs

Apple workplace rules violate u. S. Labor law, agency finds
News

Apple workplace rules violate U.S. labor law, agency finds

Walmart, cvs health adjust pharmacy hours due to labor crunch
News

Walmart, CVS Health adjust pharmacy hours due to labor crunch

Volvo group north america faces $130m civil penalty
News

Volvo Group North America faces $130M civil penalty

Tiktok ceo to testify before u. S. Congress over security concerns
News

TikTok CEO to testify before U.S. Congress over security concerns

 us debt not a crisis yet according to economists
News

 US debt not a crisis yet according to economists

Ford recalls 462,000 vehicles for rear camera display failure
News

Ford recalls 462,000 vehicles for rear camera display failure

No Result
View All Result

Recent Posts

  • Tinder owner to lay off 8% of its staff as growth falters
  • Biden moves to slash U.S. credit card fees, app charges
  • New York City Votes To “Skip The Stuff” In Take-Out Orders
  • How to Test If Your Interview Process Is a Nightmare
  • The Next Era of Work Will Be About Skills, Not Pedigree

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Interviews
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials – stuart.james@ceo-na.com

    Editor-In-Chief – caroline.sposto@ceo-na.com

    Editorials – editorials@ceo-na.com

    Advertising – media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

     

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials –
    stuart.james@ceo-na.com

    Editor-In-Chief –

    caroline.sposto@ceo-na.com

    Editorials – editorials@ceo-na.com

    Advertising –
    media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • CEO Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In