Revlon, Inc., a renowned cosmetic company, filed for Chapter 11 bankruptcy.
Recently, they convened with loaners before the deadline for the debt maturity. They met in an attempt to avoid heading in the direction of bankruptcy.
Namely, they communicated with Angelo Gordon, Glendon Capital Management LP, and King Street Capital Management. During the meetings, they focused on extending the due date for a $1.7 billion debt. The possible date would be 2024.
Revlon as a Brand
Nearly 100 years ago, Charles and Joseph Revson, and Charles Lachman founded Revlon. In 2018, Debra Perelman became Revlon’s first female CEO.
Nearly 30 years ago, Revlon went public. On June 16, 2022, they filed for Chapter 11 bankruptcy.
READ MORE: Cornerstone Acquires SumTotal For $200 Milli...