THE WHAT? Revlon creditors have called the company’s bankruptcy a ‘mess’ in a court filing, with the official creditors committee opposing the loan, according to Reuters.
THE DETAILS The filing stated that the bankruptcy filing would give too much power to a coalition of lenders, known as BrandCo Lenders, that hold around half of the US$3.5 billion of debt, at a time of uncertainty for the company and who should control it.
THE WHY? There is said to be uncertainty about whether Revlon’s value exceeds the company’s debt, with the committee arguing that it would be clearer after the company’s 2022 holiday sales.
The committee also stated that the coalition had previously ‘fleeced’ other Revlon creditors in a 2020 transaction.
The committee wrote, “No one today knows what Revlon is worth.” It also proposed that the lender coalition’s proposed financing is an effort to, “seize the company before its value has been determined.”
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.
