The Makeup And Skincare Brand Filed For Bankruptcy In The USA After The Cost Of Living Crisis Made Raw Materials Un-Affordable

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.

The 90 year old company had been hit with staff shortages, bigger supplier bills, and inflation for the past two and a half years.

Revlon owns several other beauty companies including Elizabeth Arden and Almay & Cutex.

Revlon 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.

Revlon owes creditors and investors $3.3 Billion (£2.6 Billion), as of the 2021 Winter Business Quarter.