Cosmetics Maker Revlon Files For Bankruptcy

  • Cosmetics brand Revlon Inc REV has filed for bankruptcy under Chapter 11 after facing heavy debt.
  • It has filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.
  • RelatedBeauty Products Giant Revlon In Talks To File For Chapter 11 Bankruptcy: Report
  • The filing will allow the cosmetics maker to reorganize its legacy capital structure and improve its long-term outlook in the face of a liquidity crunch.
  • The company expects to receive $575 million in debtor-in-possession (DIP) financing from its existing lender base, which will help fund its day-to-day operations.
  • The cosmetics maker has been in the industry for ninety years and has recently struggled to compete with brands driven by social media influencers.
  • Revlon has listed assets and liabilities between $1 billion and $10 billion and had long-term debt of $3.31 billion as of March 31.
  • None of Revlon's international operating subsidiaries, except Canada and the U.K., were included in Chapter 11 proceedings.
  • Price Action: REV shares closed higher by 20.32% at $2.25 on Wednesday.
  • Photo Via Flickr

Posted In: BriefsGovernmentNewsPenny StocksRegulationsGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.