Revlon Has Filed for Bankruptcy
Do you love coloring your hair at home with Revlon products?
Well, don’t be surprised if you can’t find any of their products…
Revlon has just filed for bankruptcy.
According to reports, Revlon filed for Chapter 11 bankruptcy protection because of its crippling debt and mounting celebrity competition.
The company said the move will allow it to “strategically reorganize” its finances, pointing to “liquidity constraints” sparked by supply chain disruptions and inflation.
Revlon CEO Debra Perelman made a statement 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,”
She added that its “challenging capital structure has limited our ability to navigate macro-economic issues in order to meet this demand.”
While you may not see Revlon’s products disappear entirely, you may have a hard time finding them between the bankruptcy and supply chain issues.
