Register now for Cost-free unrestricted entry to Reuters.com
June 10 (Reuters) – Cosmetics maker Revlon Inc (REV.N) is making ready to file for chapter 11 protection as shortly as up coming 7 days, the Wall Avenue Journal described on Friday, citing men and women familiar with the subject.
Revlon, whose shares declined 46%, did not promptly answer to a Reuters ask for for comment.
The lipstick maker started talks with loan companies ahead of looming personal debt maturities to try to steer the business very clear of personal bankruptcy, the WSJ claimed very last 7 days.
Sign up now for Absolutely free limitless access to Reuters.com
Revlon had prolonged-time period financial debt of $3.31 billion, as of end-March.
Demand from customers for makeup items has bounced back in modern months as folks across the world undertaking out extra typically. But Revlon, which faces stiff opposition from electronic-native upstart makes, said in March it faced offer chain constraints that harm its capacity to support desire.
Reorg Investigation very first noted Revlon was planning to file for personal bankruptcy.
Sign-up now for Free of charge unrestricted access to Reuters.com
Reporting by Praveen Paramasivam in Bengaluru Enhancing by Krishna Chandra Eluri
Our Requirements: The Thomson Reuters Belief Principles.