- Revlon had long-term debt of $3.31 billion, as of end-March, and faces stiff competition from digital-native upstart brands.
- The lipstick maker began talks with lenders ahead of looming debt maturities to try to steer the business clear of bankruptcy.
- Revlon, whose shares declined 46%, did not immediately respond to a Reuters request for comment.
Beauty care products producer Revlon Inc (REV.N) is planning to petition for part 11 insurance when one week from now, the Wall Street Journal gave an account of Friday, referring to individuals acquainted with the matter.
Revlon, whose offers declined 46%, didn’t quickly answer a demand for input.
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The lipstick producer started conversing with moneylenders in front of approaching obligation developments to attempt to avoid liquidation, the WSJ announced the week before.
Revlon had a long-haul obligation of $3.31 billion, as of end-March.
Interest in cosmetics items has quickly returned lately as individuals across the world endeavor out on a more regular basis.
In any case, Revlon, which faces fierce opposition from advanced local upstart brands, said in March it confronted store network requirements that hurt its capacity to support interest.
Reorg Research originally revealed as intending to declare financial insolvency.