Cosmetics Brand Revlon Considering To File For Bankruptcy Owing To Massive Debts

Revlon Inc., a major worldwide cosmetics corporation, is preparing to file for Chapter 11 bankruptcy due to a large financial debt burden and supply chain issues. The negotiations are ongoing, but the decision is not final, and the approach might change. Revlon stocks dropped 53 percent in a single day on June 9. The company's sales have supposedly been declining since before the Covid-19 outbreak.