As it advanced the agency of news 'Reuters', 'Revlon' would be negotiating the sale of his business to go out what before the Chapter 11, that declared him in failure from the past month of June.
As it indicated Paul Suffices, the current lawyer and the one who manages the situation of Revlon, the company studies the available possibilities and has begun to send agreements of confidentiality to the buyers that would be interested in completing the operation.
This transaction pretends to be closed before it initiate the campaign of Christmas, by what around the middle of this month of November, the agreements would have to sign. The creditors of Revlon consider it unfeasible, since it does not leave sufficient time to the parts interested to review the plan of business of the company. Instead, yes that it is sufficient time for Suffice, the lawyer of Revlon, that explains that it is of "great importance and urgency" abandon the sooner possible the situation of failure. The 'deadline' that has the company to propose formally the plan of failure is until 19 January, as it agreed with the judge in August.
The crisis of Revlon
The American cosmetic giant has been a company of reference during a lot of years, so much in the American continent, as to international level. Such as it indicates the 'BBC', Revlon warned in the month of March of this same year, that crossed a situation with "restrictions of liquid caused by the continuous global challenges, included the interruption of the chain of supply and the increase of the inflation." To finals of the same month, the company informed that it assumed a debt of 3.300 million dollars of debt on a long-term basis. In the month of June, the company declared in failure.
The sales fell 21% in 2020, although in the 2021 recovered in 9,2% followed being underneath of the levels of recovery, that supposed some losses of 206,9 million dollars in the net result of 2021.
Robert Caruso, the director of restructuring of Revlon, after receiving a loan of 375 million dollars for solve the problems of the chain of supply. According to Caruso, ensured that big part of the providers of prime matters of the mark left to send, whereas other providers, demanded the payment of future deliveries.