Revlon stock plunged to $1.17 in the days leading to the bankruptcy filing on June 15th but then started to climb back up in the following days. It surged to $8.14 on Wednesday before settling at $7.52 on Friday.

This jump in value probably has something to do with recent rumors that Revlon might actually avoid bankruptcy. Finance outlet ET Now reported earlier this week that Indian multinational conglomerate Reliance Industries Ltd. is considering making a bid for Revlon. If that turns out to be true, the investment might be worth it. However, industry experts say that the chances of this happening are slim and that investors might end up holding worthless stocks.

 Revlon turned to Chapter 11 after the company amassed a substantial debt of around $3.31 billion. This was a result of shrinking sales as well as an array of other problems. It turned out that the company especially suffered from supply issues which caused late product shipments and disrupted its relationship with suppliers and vendors.

The post Revlon Stock Surges Despite Bankruptcy Filing appeared first on theprimarymarket.com.

The news immediately caused the REV stock to drop by 50% on Friday. It closed at $1.90 in extended trading, which is an all-time low for a once prosperous company.

Revlon brass has been trying to avoid chapter 11 filing for a while now and has had several meetings with lenders in recent weeks. The goal was to find a solution to mounting debts and tight deadlines in order to keep business alive. As of now, the company isn’t optimistic but leaves room for some last-minute relief.

Over the years, Revlon has mounted a massive debt that reached $3.31 billion in March. Meanwhile, the company struggled to maintain the desired level of sales in recent years due to increased competition from brands that are more focused on digital sales rather than the traditional way of doing business. The pandemic certainly didn’t help, putting another dent in their revenue. It also didn’t help that Revlon faces issues with the supply chain and increasing costs of production.

This isn’t the first time Revlon faced Chapter 11 filing. The company narrowly avoided bankruptcy in 2020 when it managed to get bondholder support and rework its debt.

The post Cosmetics Maker Revlon Preparing Bankruptcy Filing Due to $3.31 Billion Debt appeared first on theprimarymarket.com.

Revlon stock plunged to $1.17 in the days leading to the bankruptcy filing on June 15th but then started to climb back up in the following days. It surged to $8.14 on Wednesday before settling at $7.52 on Friday.

This jump in value probably has something to do with recent rumors that Revlon might actually avoid bankruptcy. Finance outlet ET Now reported earlier this week that Indian multinational conglomerate Reliance Industries Ltd. is considering making a bid for Revlon. If that turns out to be true, the investment might be worth it. However, industry experts say that the chances of this happening are slim and that investors might end up holding worthless stocks.

 Revlon turned to Chapter 11 after the company amassed a substantial debt of around $3.31 billion. This was a result of shrinking sales as well as an array of other problems. It turned out that the company especially suffered from supply issues which caused late product shipments and disrupted its relationship with suppliers and vendors.

The post Revlon Stock Surges Despite Bankruptcy Filing appeared first on theprimarymarket.com.

The news immediately caused the REV stock to drop by 50% on Friday. It closed at $1.90 in extended trading, which is an all-time low for a once prosperous company.

Revlon brass has been trying to avoid chapter 11 filing for a while now and has had several meetings with lenders in recent weeks. The goal was to find a solution to mounting debts and tight deadlines in order to keep business alive. As of now, the company isn’t optimistic but leaves room for some last-minute relief.

Over the years, Revlon has mounted a massive debt that reached $3.31 billion in March. Meanwhile, the company struggled to maintain the desired level of sales in recent years due to increased competition from brands that are more focused on digital sales rather than the traditional way of doing business. The pandemic certainly didn’t help, putting another dent in their revenue. It also didn’t help that Revlon faces issues with the supply chain and increasing costs of production.

This isn’t the first time Revlon faced Chapter 11 filing. The company narrowly avoided bankruptcy in 2020 when it managed to get bondholder support and rework its debt.

The post Cosmetics Maker Revlon Preparing Bankruptcy Filing Due to $3.31 Billion Debt appeared first on theprimarymarket.com.