The Makeup And Skincare Brand Filed For Bankruptcy In The USA After The Cost Of Living Crisis Made Raw Materials Un-Affordable
90 Year Old Beauty Brand Revlon Goes Bust
Iconic beauty, makeup, and skincare brand Revlon has filed for bankruptcy in the United States, after the company admitted that the cost of living crisis made getting raw materials impossible.
90 year old company had been hit with staff shortages, bigger
supplier bills, and inflation for the past two and a half years.
owns several other beauty companies including Elizabeth Arden and
Almay & Cutex.
will be expected to sell off it's subsidiaries and other assets in
order to pay back creditors and investors, should the company started
in 1932 wish to survive to 2032.
owes creditors and investors $3.3 Billion (£2.6 Billion), as of the
2021 Winter Business Quarter.