Revlon Inc. is preparing to file for chapter 11 protection as soon as next week after struggling for years with too much debt, stiff competition in the cosmetics business and more recent inflation and supply-chain pressures, people familiar with the matter said.
The cosmetics maker, owned by billionaire Ron Perelman’s MacAndrews & Forbes, has been in restructuring talks with top-ranking lenders ahead of debt maturities that begin next year. A bankruptcy filing could end Mr. Perelman’s control of Revlon, which his private-equity firm bought in 1985.
Source: https://www.wsj.com/articles/cosmetics-maker-revlon-nears-chapter-11-filing-11654888492?mod=itp_wsj&yptr=yahoo