The cosmetics maker, owned by billionaire Ron Perelman’s MacAndrews & Forbes, has been in restructuring talks with top-ranking lenders ahead of debt maturities that begin next year. A bankruptcy filing could end Mr. Perelman’s control of Revlon, which his private-equity firm bought in 1985. GET FOX BUSINESS ON THE GO BY CLICKING HEREThe situation is fluid and a chapter 11 filing isn’t certain, a person familiar with the matter said. If Citi loses its appeal, it also could seek repayment of the loan from Revlon by the maturity date, a person familiar with the matter said. The company’s lenders were at odds with each other even before Citi’s accidental payoff.

Source: Wall Street Journal June 12, 2022 04:23 UTC