Cosmetics maker Revlon files for bankruptcy in US

[Eugene]

Source: BBC

Cosmetics maker Revlon files for bankruptcy in US

17 June 2022

Cosmetics maker Revlon has filed for bankruptcy in the US, as it says supply chain disruptions have driven up the cost of raw materials for its products.

The 90-year-old firm says it has also been struggling with supplier payments, inflation and labour shortages.

The company says it expects to receive $575m (£466.6m) from its existing lenders to support day-to-day operations.

Its shares lost more than 13% in New York trading after the announcement.

In a court filing, the company said that supply chain disruptions had prompted intense competition for the ingredients used in its cosmetics. It added that suppliers have also asked to be paid for orders upfront.

-snip-

Read more: https://www.bbc.com/news/business-61835796

[Irish_Dem]

1. I wonder also if women stopped wearing make-up during Covid.

Working from home or wearing masks, why wear make-up?

[Diamond_Dog]

2. This is true.

You’d think other cosmetics companies would be following suit.

[Irish_Dem]

3. I wondered from the beginning if cosmetic sales would suffer.

Retired women in strict quarantine, working women working from home, women out and about wearing masks.

Now that most are returning to normal, are they still wearing make up like they used to?

And even a return to normal may not mean people are going out like they used to.

Yes I imagine all the cosmetic companies have taken a hit during covid.

[Sneederbunk]

4. Remember when they advertised on tv show $64,000 Question.

[bucolic_frolic]

5. Meanwhile, in the Mind of Q

"First Obama came for our tampons, then Biden came for our Revlon."