Revlon files for bankruptcy protection


Cosmetics maker Revlon Inc filed for Chapter 11 bankruptcy on Wednesday after battling debt and competition from upstart brands.

The company has listed assets and liabilities between $1 billion and $10 billion, according to a filing with the U.S. Bankruptcy Court for the Southern District of New York.

Revlon makeup products on display in a CVS store. ((Photo by Justin Sullivan/Getty Images)/Getty Images)

The cosmetics maker, owned by billionaire Ron Perelman’s MacAndrews & Forbes, was in restructuring talks with top lenders ahead of debt maturities that begin next year, according to the Wall Street Journal.

COSMETICS MANUFACTURER REVLON APPROACHES CHAPTER 11 CASE

Perelman’s private equity firm bought Revlon in 1985.

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Revlon makeup products are on display at a CVS store in Sausalito, California. ((Photo by Justin Sullivan/Getty Images)/Getty Images)

Revlon’s brands include American Crew, Elizabeth Arden and Almay to name a few.

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Revlon’s competitors included celebrity-backed brands such as Kylie Jenner’s Kylie Cosmetics and Rihanna’s Fenty Beauty.

Reuters contributed to this report.

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