Revlon Sees Light Through Bankruptcy Tunnel, Expects to Emerge In April
Executive Summary
New York-based Revlon, Inc. expects to emerge from Chapter 11 bankruptcy after a 3 April meeting with the Bankruptcy Court for the Southern District of New York. The firm says it has settled with a group of unsecured creditors and agreed to financial restructuring that should reduce total debt burden by about $2.7bn.
You may also be interested in...
Revlon Moves To Dismiss ‘Ammonnia-Free’ Hair-Color Suit Lacking ‘Reputable Laboratory Analysis’
Ammonia is in fact absent from “Ammonia-Free” Creme of Nature Moisture-Rich Hair Color with Shea Butter Conditioner, and what’s missing from plaintiff’s class action complaint is lab testing to corroborate her findings at home using ill-suited testing strips, Revlon says.
IPAR Sales Grow 26% On 'Premiumization' Streak, As Symrise Earnings Stumble Over Production Issues: Briefs
New York-based Inter Parfums, Inc. says continued “premiumization’ trends in fragrance helped drive its sales up 26% in the second quarter, while German company Symrise AG’s two recent purchases in the fragrance space added €15m to sales in the first-half of the year. Separately, Revlon announces interim CEO as head Debra Perelman steps down.
Revlon Gains $1.4Bn Financing From Subsidiaries, Appoints Interim CFO Amid Bankruptcy Fallout
Revlon approved for $1.4bn debtor-in-possession financing from BrandCo Lenders, a group of operating subsidiaries formed in capital structure changes which owns much of Revlon’s intellectual property. Firm appoints interim CFO to set course for debt restructuring.