April 2023

Revlon is about to emerge from bankruptcy later this month as a non-public company and without Ronald Perelman at its helm, now that a federal judge has approved its plan. The business had been traded on the Latest York Stock Exchange since 1996, when owner MacAndrews & Forbes took it public. But through Revlon’s newly approved bankruptcy plan, ownership stakes will likely be handed to secured lenders, while existing shareholders, including MacAndrews chairman Perelman, who controlled around 85 percent of the corporate as of earlier this yr, will likely be left with nothing. Through the plan, the troubled 90-year-old Latest York-based beauty company that owns the namesake Revlon, Elizabeth Arden and Almay brands will eliminate greater than $2.7 billion in debt...