Revlon, Files for Bankruptcy.<br />Reuters reports that the cosmetics firm <br />filed for bankruptcy on June 15.<br />Over the years, the company, formed in 1932, has lost sales to celebrity brands such as <br />Kylie Cosmetics and Fenty Beauty.<br />Over the years, the company, formed in 1932, has lost sales to celebrity brands such as <br />Kylie Cosmetics and Fenty Beauty.<br />Over the years, the company, formed in 1932, has lost sales to celebrity brands such as <br />Kylie Cosmetics and Fenty Beauty.<br />The brands in its portfolio are themselves a little older and do not offer the hype that the contemporary customer is looking for, Thomai Serdari, a professor of marketing at New York University, via Reuters.<br />Supply issues, worsened by the pandemic, <br />have also hit Revlon hard.<br />Supply issues, worsened by the pandemic, <br />have also hit Revlon hard.<br />Company shares fell 44% after news <br />of the bankruptcy filing on June 15.<br />Reuters reports that as of March 31, <br />Revlon had long-term debt of $3.31 billion.<br />On June 16, the company said that <br />upon getting court approval, .<br />it expects to receive $575 million in debtor-in-possession financing from its lender base.<br />Canada and the U.K. are the only international units that are included in the Chapter 11 bankruptcy proceedings.<br />Canada and the U.K. are the only international units that are included in the Chapter 11 bankruptcy proceedings
