After the news in the past that “Revlon” company cosmetics The 90-year-old US giant is facing serious business problems. from changing consumer demands Therefore, the market share has increased. decrease sales There were also problems with delayed production and insolvency. until unable to continue the business. “REVLON” has filed for bankruptcy under Section 11 of the US Bankruptcy Act. For supply chain reasons and inflation problems along with the COVID-19 situation This results in lower sales and insufficient profits. The company has assets and liabilities of up to 10 billion US dollars. which is huge money
However, filing for receivership under Section 11 will allow the company to continue its business. but also have to set a plan for debt repayment by the company “Revlon” It is expected to receive a new loan from creditors of $575 million. The said loan will be used as working capital in the business in the future.
for “Revlon” Founded in 1932, nail polish began selling during the US economic crisis. It expanded globally in 1955 and was acquired by MacAndrews & Forbes in 1985 before being publicly traded in 1996. The Company’s debt burden is very heavy. Especially after the company sold more than $2 billion in loans and bonds. To finance the 2016 acquisition of Elizabeth Arden, it owns brands such as Cutex and Almay in markets in more than 150 countries.
while the Facebook page Revlon Thailand has posted a statement explaining the case of the parent company’s bankruptcy petition as mentioned above, stating that “Revlon Thailand will continue to be together with friends. Thank you for supporting Revlon.” At the same time, they also posted a picture with a statement. with the meaning that
Revlon Thailand thank you for your continued love and support, Revlon Thailand will always be there to deliver quality products that you all love. including developing new products continuously
We will continue to be together with our friends.
#RevlonThailand #LiveBoldly
There are beauty followers and brand fans “Revlon” Come to comment and support each other overwhelmingly.
