(ANSA) – ROME, JUN 16 – The American cosmetics giant Revlon has filed for bankruptcy under Chapter 11 in the southern district of New York, unable to manage its heavy debt load in light of the difficulties in the supply chain and the surge in inflation.
According to the documents filed in court, the listed assets of the group amount to 2.3 billion dollars against debt of 3.7 billion.
The bankruptcy, Bloomberg reconstructs, closes a tumultuous period for the company, which suffered during the pandemic and had to face years of decline in sales due to the spread of products of new emerging brands that have dented its market share.
Revlon started out in cosmetics about 90 years ago, starting selling nail polishes during the Great Depression. (HANDLE).
Source: Ansa
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