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						<span class="tag is-dark is-uppercase">Business</span>
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<p>December 31, 2022 2:00 pm</p>
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<p>Revlon has been one of America’s primary beauty brands. Founded in 1932, it has fallen into Chapter 11. Its debt load recently sat at $3 billion, and there is nothing about the current financials of the company that will make that go away. Revlon’s assets may be liquidated, meaning the brand will disappear.</p>
<p>A private equity firm, MacAndrews &#038; Forbes, bought Revlon in 1987. The transaction price was $850 million, close to $1.6 billion today. Its management of Revlon has been a dumpster fire for most of its years as the owner. McAndrews &#038; Forbes put more money into Revlon, but temporary improvements weren’t enough to solve balance sheet problems. And the improvements were genuinely temporary.</p>
<p>Revlon’s problems can be summed up in its most recent quarterly report. Revenue fell 10% to $468 million. The net loss was $153 million. Revlon received $575 million in debtor-in-possession financing. It will burn through that at a rapid pace.</p>
<p>Traders have tried to make money on the stock’s volatility. It is a dangerous game. The shares traded as high as $11.86 in the last year. They now change hands at $.43 and can swing by double digits on a single day. Since the company is bankrupt, the common should have no value. That means trading is pure speculation.</p>
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<p>Revlon, which recently cut a deal to exit bankruptcy, won’t be out for long. Its sales are too weak and its management is too poor. Revlon won’t be around much longer.</p>
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Revlon May Go Away – Darlinez News.
