×
3 414
Fashion Jobs
COTY
Brand Manager
Permanent · London
MULBERRY
Digital Stock & Warehouse Coordinator
Permanent · SHEPTON MALLET
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · NORTH LYNN INDUSTRIAL ESTATE
SHISEIDO
Shiseido Account Manager - h Beauty Milton Keynes (37.5 Hours)
Permanent · Milton Keynes
FRASERS GROUP
Warehouse Supervisor - Night Shift
Permanent · SHIREBROOK
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
COACH
Brand & Media Manager
Permanent · London
REISS
Brand & Comms - Marketing Manager
Permanent · LONDON
HEAD OFFICE
Digital Product Manager – Identity And Account
Permanent · LONDON
HEAD OFFICE
Senior Marketing Planning Manager – John Lewis Financial Services
Permanent · LONDON
HEAD OFFICE
Buyer, Waitrose & Partners (Level 7)
Permanent · BRACKNELL
JOHN LEWIS
Loss Prevention Partner
Permanent · DARTFORD
HEAD OFFICE
Buyer, Waitrose & Partners (Level 5)
Permanent · BRACKNELL
SELFRIDGES
Product Manager
Permanent · LONDON
NEW LOOK
Sales Manager
Permanent · METROCENTRE
FRASERS GROUP
HR Business Partner
Permanent · SHIREBROOK
EVERLAST GYMS
General Assistant - Everlast Fitness (Maternity Cover)
Permanent · ROYTON
PHV
Marketing Executive, UK, Ireland & Nordics (Tommy Hilfiger)
Permanent · London
JIGSAW
Warehouse Operative
Permanent · SWINDON
TJX EUROPE
Loss Prevention Graduate Programme (2023)
Permanent · Grand Londres
ZARA
Visual Merchandising Manager (Kidswear) - Zara - Kingston
Permanent · KINGSTON UPON THAMES
Ads
By
Reuters
Published
Oct 29, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Bankrupt Revlon says it is entertaining sale offers

By
Reuters
Published
Oct 29, 2022

Revlon Inc's bankruptcy attorneys said in court on Thursday that the cosmetics company is engaging with possible purchasers as a way to exit from Chapter 11 as quickly as possible.


Revlon



Revlon attorney Paul Basta told U.S. Bankruptcy Judge David Jones in Manhattan that the company is ready to move onto the next stage of its bankruptcy after stabilizing its relationship with vendors and completing a long-term business plan.

Revlon is exploring a possible sale of the company and has begun sending nondisclosure agreements to interested bidders, Basta said.

Revlon junior creditors argued in court that rushing toward a sale before the 2022 holiday season would only benefit senior lenders who forced the company to accept unrealistic deadlines as part of Revlon's $1.4 billion bankruptcy loan.

That court-approved loan requires Revlon and its lenders to reach a bankruptcy restructuring agreement by mid-November, which does not leave enough time for stakeholders to review Revlon's new business plan or offer a realistic path for rehabilitating the company, according to Robert Stark, a lawyer for the junior creditors.

"We have a very big and complicated mess on our hands," Stark said. "It is not going to get done in two weeks."

Basta said that exiting bankruptcy quickly is "of paramount importance" because of the high fees the company is incurring.

Revlon has until Jan. 19 to formally propose the bankruptcy plan.

Junior creditors intend to file a legal challenge on Monday a 2020 restructuring that allowed Revlon to take on more debt while transferring its brands and intellectual property assets to a different Revlon subsidiary, Stark said. If successful, the challenge would remove some of the senior lenders' influence over the company's bankruptcy restructuring.
 

© Thomson Reuters 2023 All rights reserved.