In an attempt to protect profitability and managing our liquidity. The 90-year-old beauty company went bankrupt in New York this week looking at a well-known legal team for reorganization. According to a Reuters article by Dietrich Knauth U.S. Bankruptcy Judge David Jones in New York approved Revlon’s proposed bankruptcy loan on an interim basis after hearing testimony that Revlon was down to $6 million in cash and struggling to fulfill retail customer orders.
Bankruptcy Petition (PDF)
Revlon Takes Step Towards Reorganizing Capital Structure as the Company Continues to Execute Against its Strategic Plan (PDF)