Revlon is filing for bankruptcy. The international cosmetics company filed for Chapter 11 bankruptcy on Wednesday following heavy debt, new competition, and supply chain difficulties Its shares lost more than 13% in New York trading after the announcement.
The company faced increased competition from new brands such as Kylie Jenner’s Kylie Cosmetics and Rihanna’s Fenty Beauty. Revlon will be able to continue to operate while it develops a plan to repay its creditors.
Revlon is filing for bankruptcy. The international cosmetics company filed for Chapter 11 bankruptcy on Wednesday. Following heavy debt, new competition, and supply chain difficulties. Its shares lost more than 13% in New York trading after the announcement. #DStv403 pic.twitter.com/L6Dd25em1o
— eNCA (@eNCA) June 17, 2022
Source: eNCA
In other news – Nasty C to star in new Disney+ animated series
Nasty C is expanding his acting portfolio after being announced as part of the voice cast of a new Disney+ animated series.
‘Variety’ broke the news that Nasty C would be a part of “Kizazi Moto: Generation Fire. Learn more
