New Chapter 11 Filing – Revlon, Inc.
Shortly before midnight on June 15, 2022, cosmetic giant Revlon, Inc., along with several subsidiaries, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Lead Case No. 22-10760). The company, which cited supply chain disruption and rising inflation as bases for its filing, will pursue a reorganization funded by a proposed $575 million DIP financing from its existing lender base. The company reports $1 billion to $10 billion in both assets and liabilities.
Additionally, the company intends to pursue a CCAA recognition proceeding under Canadian Insolvency law in Ontario with Revlon Inc. acting as the foreign representative.
Cole Schotz does not represent the Debtor in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtor’s counsel.
Cole Schotz’s nationally renowned Bankruptcy & Corporate Restructuring group practices in Delaware, Maryland, New Jersey, New York, and Texas.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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