Revlon Stock Collapses Amid Reports Of Imminent Chapter 11 Bankruptcy Filing


Updated at 12:35 pm EST

Revlon  (REV) – Get Revlon Inc. Report shares extended declines Monday following a report that suggested the iconic cosmetics group could file for Chapter 11 bankruptcy protection in the coming days.

The Wall Street Journal reported late Friday that the group began talks with lenders last week in order to explore way to reduce or restructure its $4.3 billion in debts. The Journal said a Chapter 11 filing could happen as soon as this week.

Last month, the group said it was hoping to “ensure sufficient liquidity to support both our growth and our capital structure” as it faced supply chain headwinds and other “emerging macroeconomic challenges that continue to impact businesses across most industries.”





Source link

Leave a Reply

Your email address will not be published.