Cosmetics maker Revlon nears bankruptcy filing – WSJ

A General public Basic safety officer keeps look at as men and women stand in entrance of a billboard owned by Revlon that can take their pictures and displays them in Situations Sq. in the Manhattan borough of New York October 13, 2015. REUTERS/Carlo Allegri/Files

June 10 (Reuters) – Cosmetics maker Revlon Inc (REV.N) is getting ready to file for chapter 11 security as shortly as up coming week, the Wall Street Journal claimed on Friday, citing people today common with the make a difference.

Revlon, whose shares declined 46%, did not immediately react to a Reuters ask for for comment.

The lipstick maker started talks with lenders ahead of looming financial debt maturities to consider to steer the enterprise crystal clear of personal bankruptcy, the WSJ reported very last week.

Revlon experienced extensive-term financial debt of $3.31 billion, as of conclude-March.

Desire for make-up goods has bounced back in new months as people today across the planet venture out more frequently. But Revlon, which faces rigid levels of competition from electronic-indigenous upstart brand names, explained in March it faced offer chain constraints that hurt its potential to provider need.

Reorg Research initially described Revlon was setting up to file for personal bankruptcy.

Reporting by Praveen Paramasivam in Bengaluru Enhancing by Krishna Chandra Eluri

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