It's official: Revlon is filing for Chapter 11 bankruptcy
then confirmed that "its annual interest expense was nearly $248 million last year, and it reported $132 million of liquidity as of March 31." The publication also made note of a call back in May with chief executive officer Debra Perelman, where she acknowledged the company's decline and expressed the inability to meet product demand with inflation at an all-time high.
Revlon's potential bankruptcy is also partially brought on by more than 3 billion dollars of long-term debt. In hopes of steering the company away from bankruptcy back in 2020, Revlon sought out several potential lenders to aid the debt accumulated, as reported by the . Although it was not able to meet its intended funding goal, it did gain refinancing of $1.8 billion dollars of debt.More on eye makeup:
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