By Kathryn HardisonRevlon Inc. shares fell 25% to $1.54 Monday morning following a Friday report that the cosmetics maker is preparing to file for chapter 11 bankruptcy. The Wall Street Journal reported June 10 that the company has been struggling for years with debt and stiff competition, topped recently with inflation and supply-chain pressures. The Journal reported that Revlon has been in restructuring negotiations with lenders ahead of debt maturities that begin next year. The company could file for bankruptcy protection this week, sources said. As of Monday, shares had fallen 86% for the year and are down 90% over the past 12 months.

Source: Wall Street Journal June 13, 2022 14:12 UTC