Revlon filed for Chapter 11 bankruptcy in 2022 after carrying billions of dollars in debt.
The cosmetics company filed in the United States on June 16, 2022. Its filing listed billions of dollars in debt, while supply-chain disruptions, inflation, and competition from newer beauty brands added pressure to the business.
Revlon had been highly leveraged for years after a 1985 leveraged buyout led by Ronald Perelman. That debt burden made it harder for the company to respond to changing consumer preferences and disruptions in the beauty-products market.
Revlon emerged from bankruptcy in May 2023 after a court-approved restructuring reduced debt and transferred control to lenders. The company is distinct from Avon and Estée Lauder, which are separate cosmetics businesses and did not share Revlon’s 2022 Chapter 11 case.