Revlon Files for Bankruptcy Protection

Revlon filed for Chapter 11 bankruptcy on Wednesday after grappling with its debt load, tough competition from online brands and supply-chain pressures.

The cosmetics maker, which is owned by billionaire Ron Perelman’s MacAndrews & Forbes, filed for bankruptcy with the U.S. Bankruptcy Court for the Southern District of New York. Revlon had a debt load of around $3.3 billion as of March, according to securities filings, The Wall Street Journal reported.

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