Revlon, whose shares declined 46%, did not immediately respond to a Reuters request for comment. The lipstick maker began talks with lenders ahead of looming debt maturities to try to steer the business clear of bankruptcy, the WSJ reported last week. Revlon had long-term debt of $3.31 billion, as of end-March. Demand for makeup products has bounced back in recent months as people across the world venture out more often. Reorg Research first reported Revlon was planning to file for bankruptcy.

Source: Wall Street Journal June 11, 2022 14:55 UTC