cosmetic maker, owned by billionaire Ron Perlman, MacAndrews & Forbes, is in restructuring talks with major lenders ahead of debt maturities starting next year. The bankruptcy filing could end Mr. Perelman’s control of Revlon, which was bought by his own company in 1985. Get your FOX business on the go by clicking hereA person familiar with the matter said the situation was flexible and filing of the Chapter 11 file was not certain. A person familiar with the matter said that if Citi loses its appeal, it can also ask Revlon to repay the loan by the due date. The company’s lenders were at odds with each other even before Citi’s accidental repayment.

Source: Wall Street Journal June 12, 2022 05:22 UTC