revlon

Revlon files for bankruptcy facing high debt, supply chain pain

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Revlon files for bankruptcy facing high debt, supply chain pain

Revlon Inc. filed for Chapter 11 bankruptcy, unable to manage its heavy debt load amid the supply chain crunch and steep inflation. The cosmetics giant owned by billionaire Ron Perelman sought court protection in the Southern District of New York, and listed both assets and liabilities of as much as $10 billion, according to court … Read more

Citi gives away $900 million by mistake, now three lenders refuse to return the money

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Citi gives away 0 million by mistake, now three lenders refuse to return the money

The mistaken payment was first reported by LevFin Insights. By Katherine Doherty and Jenny Surane Even for Citigroup Inc., it was big money. On Wednesday, loan operations staff at the New York bank wired $900 million, seemingly on behalf of Revlon Inc., to lenders of the troubled cosmetics giant controlled by billionaire Ron Perelman. It … Read more