New York-based personal care and cosmetics company Revlon announced it has filed for bankruptcy on Thursday, June 16.
The company is hoping to get $575 million in debtor-in-possession (“DIP”) "to strategically reorganize its legacy capital structure and improve its long-term outlook," according to a release. Revlon says they plan on operating "seamlessly" after the filing
“Today’s filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth,” said Debra Perelman, Revlon's President and Chief Executive Officer. “We are committed to ensuring the reorganization is as seamless as possible for our key stakeholders, including our employees, customers and vendors, and we appreciate their support during this process.”
Revlon was established in New York City in March 1932 and has had its headquarters there ever since. The company sells products in about 150 countries and has global locations in London, Paris, Tokyo and more.
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