Tag: revlon

Revlon Cleared to Exit Bankruptcy With $2.7 Billion Debt Reduction Deal

April 4, 2023
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A U.S. judge on Monday approved Revlon Inc.’s reorganization plan, allowing the cosmetics maker to cut $2.7 billion from its debt and exit bankruptcy later this month. U.S. Bankruptcy Judge David Jones in Manhattan, who has been overseeing the company’s Chapter 11 bankruptcy, said Revlon had reached “a hard-fought multi-faceted settlement” that resolves a “series…

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Judge Rejects Revlon Shareholders’ Demand for a Bankruptcy Equity Committee

August 24, 2022
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A U.S. bankruptcy judge on Wednesday declined to appoint an equity committee in Revlon Inc.’s bankruptcy, rejecting a minority shareholder demand for a greater say in the cosmetics company’s restructuring. U.S. Bankruptcy Judge David Jones in Manhattan said shareholder interests were already represented in the bankruptcy by Revlon, majority shareholder MacAndrews & Forbes, and the…

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Revlon Gets Court Approval for $1.4 Billion Bankruptcy Loan

August 2, 2022
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Revlon Inc. received a U.S. bankruptcy judge’s permission on Monday to proceed with a $1.4 billion loan, over an objection by junior creditors who argued that its onerous terms could block their chance to recover anything from the cosmetic company’s bankruptcy. U.S. Bankruptcy Judge David Jones in Manhattan ordered modifications to the loan in response…

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Cosmetics Giant Revlon Files for Bankruptcy Amid Increased Competition, Supply Chain Disruptions

June 17, 2022
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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….

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