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5 Apr

Revlon to Exit Bankruptcy as a Private Company –

by Beauty Tips
Fashion, Featured
Revlon to Exit Bankruptcy as a Private Company –
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...
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20 Dec

Revlon Bankruptcy Proposal Would Remove Ron Perelman as Owner

by Beautifaire101
Beauty, Featured
Revlon Bankruptcy Proposal Would Remove Ron Perelman as Owner
Revlon, the troubled 90-year-old Recent York-based beauty company that owns the namesake Revlon, Elizabeth Arden and Almay brands, looks to be near reaching a deal that may see creditors take over the cosmetics company that Ron Perelman has helmed for many years. In line with legal filings, Revlon has entered right into a Chapter 11 restructuring support agreement with two creditor groups that may involve ownership stakes being handed to secured lenders, while existing shareholders, including Perelman, who controlled around 85 percent of the corporate as of earlier this yr, can be left with nothing. The 2 creditor groups are the Consenting BrandCo Lenders, which incorporates Ares Management and Oak Hill Advisors, and the Official Committee of Unsecured Creditors, appointed within...
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12 Dec

The Revlon Product That Might Save Their Company Is

by Beauty Tips
Makeup, Featured
The Revlon Product That Might Save Their Company Is
In case you missed it, Revlon recently announced that they've filed Chapter 11 bankruptcy to maintain the corporate operating while they work out a payment plan with its creditors. Reports say that the court filing revealed that the cosmetics giant is facing a debt value that exceeds $3.0 billion. Despite having been in business for 90 years and earning a status as one of the vital recognizable names in the sweetness sector, Revlon has found it difficult to compete with its established rivals, comparable to L’Oreal and Estée Lauder, in addition to with more moderen cosmetic startups which are expanding quickly resulting from their lack of social media influencer engagement. Nonetheless, because of TikTok gurus like Kyra Nikole, Revlon could also be...
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13 Oct

Revlon Files For Bankruptcy Protection – Essence

by Beauty Tips
Nails, Featured
Revlon Files For Bankruptcy Protection – Essence
Courtesy of Getty Images During the last decade, fashion and sweetness corporations have needed to adopt latest marketing strategies because the influencer industry continues to prove as probably the most lucrative ways to drive sales. The times of counting on a brand’s heritage are drifting and executives are forced to search out their way in today’s hyper-digital world. Celebrity placements are also not as impactful as they once were and identifying social media influencers with a loyal following has turn out to be more necessary than ever. Inside the last two years, Revlon announced Megan Thee Stallion because the brand’s newest ambassador, but even with Megan’s growing influence, Revlon’s celebrity ambassadors couldn't dig the cosmetic company out of its debt. Ronald Perelman,...
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