THE WHAT? Revlon has entered into talks with lenders ahead of the maturity of debt, in a bid to avoid bankruptcy, according to a report by The Wall Street Journal.
THE DETAILS According to people familiar with the matter, the cosmetics maker is in discussions with a group of lenders that include Angelo Gordon, Glendon Capital Management LP and King Street Capital Management.
The restructuring discussions are said to focus on pushing out the due date on the estimated US$1.7 billion debt, which matures as early as 2024.
THE WHY? Revlon has fallen short due to the increased popularity of social media brands, and narrowly avoided bankruptcy in 2020 as the pandemic took hold.
The company’s next maturity is September 2023, with the maturities on the rest of the company’s US$3.3 billion in debt due in 2024 and 2025.
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
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Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
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Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
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Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
