Between lagging sales, accounting errors and its bankruptcy filing last year, it is safe to say that legacy beauty retailer Revlon saw its fair share of challenges in 2022.
But a surprise turn came in December when the embattled beauty brand was fully acquired by its lenders.
This led to the ousting of long-time owner Ron Perelman, as well as completely wiping out the business’ shareholders.
On the back of a US$1.4bn loan approved by a bankruptcy court in the US, this could be one of the most important opportunities the brand needs to revamp and revitalise itself.
The caveat, however, is that Revlon must reach a restructuring agreement by 19 January 2023 and pay off the loan by April of this year to come out of bankruptcy.
But how feasible is this goal?
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