Economy

Eugene

(62,657 posts) Fri Jun 17, 2022, 12:41 PM Jun 2022

Cosmetics maker Revlon files for bankruptcy in US

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

5 replies

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Cosmetics maker Revlon files for bankruptcy in US (Original Post) Eugene Jun 2022 OP

I wonder also if women stopped wearing make-up during Covid. Irish_Dem Jun 2022 #1

This is true. Diamond_Dog Jun 2022 #2

I wondered from the beginning if cosmetic sales would suffer. Irish_Dem Jun 2022 #3

Remember when they advertised on tv show $64,000 Question. Sneederbunk Jun 2022 #4

Meanwhile, in the Mind of Q bucolic_frolic Jun 2022 #5

Irish_Dem

(57,588 posts)

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

Reply to Eugene (Original post)

Fri Jun 17, 2022, 12:42 PM

Jun 2022

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

Diamond_Dog

(34,662 posts)

2. This is true.

Reply to Irish_Dem (Reply #1)

Fri Jun 17, 2022, 01:57 PM

Jun 2022

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

Irish_Dem

(57,588 posts)

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

Reply to Diamond_Dog (Reply #2)

Fri Jun 17, 2022, 02:14 PM

Jun 2022

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

(15,111 posts)

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

Reply to Eugene (Original post)

Fri Jun 17, 2022, 02:33 PM

Jun 2022

bucolic_frolic

(47,001 posts)

5. Meanwhile, in the Mind of Q

Reply to Eugene (Original post)

Sat Jun 18, 2022, 05:23 AM

Jun 2022

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

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