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BREAKING NEWS


XI JINPING ARRIVED IN HONG KONG TO MARK 25 YEARS SINCE THE HANDOVER FROM BRITAIN
AS CHINA’S CRACKDOWN ON DISSENT CONTINUES IN THE FORMER COLONY



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 * Pro Bankruptcy Distress


COSMETICS MAKER REVLON NEARS CHAPTER 11 FILING


THE BUSINESS, OWNED BY BILLIONAIRE RON PERELMAN’S MACANDREWS & FORBES, HAS BEEN
IN TALKS WITH LENDERS AHEAD OF DEBT MATURITIES THAT BEGIN NEXT YEAR

A REVLON MAKEUP DISPLAY.

Photo: Justin Sullivan/Getty Images
By
Soma Biswas ,
Becky Yerak and
Alexander Gladstone
Updated June 10, 2022 6:40 pm ET

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Revlon Inc. is preparing to file for chapter 11 protection as soon as next week
after struggling for years with too much debt, stiff competition in the
cosmetics business and more recent inflation and supply-chain pressures, people
familiar with the matter said.

The cosmetics maker, owned by billionaire Ron Perelman’s MacAndrews & Forbes,
has been in restructuring talks with top-ranking lenders ahead of debt
maturities that begin next year. A bankruptcy filing could end Mr. Perelman’s
control of Revlon, which his private-equity firm bought in 1985.

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