By Alessandro Carrara
After being fully acquired by its lenders in 2022, Revlon is potentially on the path to exit bankruptcy by April this year. Could this move provide the breath of fresh air it so desperately needs, or are the challenges set to continue for the historic beauty brand?
Ron Perelman acquired Revlon in 1985 in a US$ 2.7bn deal
Between lagging sales, accounting errors and its bankruptcy filing last year
, it is safe to say that legacy beauty retailer Revlon saw its fair share of challenges in 2022.
But a surprise turn came in December when the embattled beauty brand was fully acquired by its lenders.
This led to the ousting of long-time owner Ron Perelman, as well as completely wiping out the business’ shareholders.
On the back of a US$1.4bn loan approved by a bankruptcy court
in the US, this could be one of the most important opportunities the brand needs to revamp and revitalise itself.
The caveat, however, is that Revlon must reach a restructuring agreement by 19 January 2023 and pay off the loan by April of this year to come out of bankruptcy.
But how feasible is this goal?...
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