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Cosmetics maker Revlon files for bankruptcy in US

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Posted: 17/06/22 - 10:56
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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.

I Call True: Just not moved with the times or enticing the new generation who are hooked on Kylie Jenner and Kim Kardashian products

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4 Comments
12 days
2 upvotes
The make up our mums used to wear but not the next generation onwards it would seem
15 days
3 upvotes
"The 90-year-old firm says it has also been struggling with supplier payments, inflation and labour shortages."

Labour shortages? pay people a decent wage and they'll work for you. Simple as that really, but because they've short changed the staff for so long they now have to file for bankruptcy because the crap wages they were offering no one would work for.
15 days
3 upvotes
Wow, never thought I would see Revlon going under. Just shows you how tough it is out there.
15 days
2 upvotes
Always a shame to see a company go to the wall, especially for the employees