Revlon (REV) Is Preparing to File for Bankruptcy

https://finance.yahoo.com/news/revlon-plunges-report-preparing-bankruptcy-201041231.html

Revlon Inc. the cosmetics empire is preparing to file for bankruptcy. New York-based Revlon has struggled to remain relevant and stem falling sales amid competition from Estee Lauder Cos. and a host of smaller companies using social media to lure customers. Those problems were amplified after Covid-19 shutdowns sent demand for makeup plunging. The brand, which is controlled by Perelman’s MacAndrews & Forbes, has narrowly averted multiple defaults by cutting debt deals with creditors. Revlon has more than 15 brands, including Elizabeth Arden and Elizabeth Taylor, which it markets in nearly 150 countries.