Highlights

  • Revlon has over $3 billion in debt
  • May file for bankruptcy within a week

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Beauty brand Revlon may be bankrupt

Reports indicate that cosmetics giant Revlon Inc. is preparing to file for Chapter 11 bankruptcy 

Beauty brand Revlon could face bankruptcy as high debt along with rising inflation and supply shocks is breaking the balance sheet to a point beyond repair.

Bloomberg reports that the Revlon who is the creator of 15 brands including Elizabeth Arden may file for bankruptcy within a week. This news led to the stock 53%, the biggest one-day drop on record.

Revlon, which faces stiff competition from digital-native upstart brands has a long-term debt of $3.31 billion, as of end-March.

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