Cosmetics giant Revlon filed for Chapter 11 bankruptcy protection on Wednesday after struggling with debt and competition from online-focused upstart brands and amid soaring inflation levels plus supply chain issues.
The company, owned by billionaire Ron Perelman’s MacAndrews & Forbes, listed assets totaling $2.3 billion as of late April, according to a June 15 filing with the U.S. Bankruptcy Court for the Southern District of New York cited by Bloomberg.
However, total debts are listed as $3.7 billion, which includes its 6.25 percent senior notes due in 2024, according to Bloomberg.
The company also has 10 loans with outstanding amounts totaling about $2.6 billion and maturing in the next three years, Bloomberg-compiled data show….