Is Revlon Going Out Of Business 2024?

About Revlon

Revlon is an American multinational company that deals with cosmetics, perfumes, and personal care products.

History Of Revlon

Revlon was founded in 1932, in the midst Great Depression. It was founded by Jewish American Charles Revson and Joseph Revson along with a chemist Charles Lachman.

Who Owns Revlon?

After filing for bankruptcy, Revlon came with new owners and new board. The majority of its reorganized equity is owned by Glendon Capital Management, Angelo, Gorden & Co., and Cyrus Capital Partners LP.

New Board Of Revlon

1. Elizabeth A. Smith 2. Martin Brok 3. Timothy McLevish 4. Hans Melotte 5. Paul Pressler

Peak Net Worth Of Revlon (2022)

Week 1: $607.197 million Week 2: $578.438 million Week 5: $544.253 million Week 6:  $583.864 million Week 7:  $554.02 million

The Reason Of Filling Bankruptcy

Revlon failed to keep up with the pace of changing prefrences of women. It also failed to stand out in the market as riveal like MAC Cosmetics and Kylie Jenner entered.

The Impact Of Supply Chain

The issue of supply chain highly impacted the company. The vendors also became less tolerant for the payment. The trigger was the outset of the Covid-19 pandemic, the Ukraine-Russia war, and the lockdown in China stirred up the trouble.

Is Revlon Going Out Of Business?

Revlon filed for bankruptcy in 2022, but after only one year it emerged with new owners and cut out its debt. The company eliminated more than $2.7 billion in debt. So its still in the business but recovering from the blow of bankruptcy.