Cosmetic Brand Revlon Has Filed For Bankruptcy

The ninety-year old cosmetic brand has filed for bankruptcy in US as its supply chaindisorganization has increased the cost of raw materials for its products.

The company also revealed that it has been struggling with supplier payments ,inflation and inadequate labour.
In a court filing ,the company said that the supply chain disorganization had induced severe rivalry for the raw materials used in its products.It also stated that the suppliers have asked to be paid for orders ahead of time.

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This has caused the caused the inadequacy of necessary ingredients across the company’s collection.

In recent years,Revlon has faced acute rivalry from new brands owned by celebrities such as Kyle cosmetics and Rihanna’a Fenty Beauty.

Revlon President,Debra Pereman revealed that the bankruptcy filing will allow the company to “offer our customers the iconic products we have delivered for decades while providing a clearer path to our future growth”