Revlon Inc. (REVRQ) said Tuesday it will emerge from Chapter 11 bankruptcy in late April after restructuring its debt. The cosmetics company said it will eliminate more than $2.7 billion in debt from its balance sheet, leaving about $1.5 billion of debt outstanding. Revlon will emerge with $285 million in liquidity. It will no longer trade as a public company. The U.S. Bankruptcy Court for the Southern District of New York confirmed its reorganization plan, the company said. "Our new capital structure and increased liquidity will enable us to continue to animate our brands in the market, and we look forward to the future of Revlon," said CEO Debra Perelman.
-Steve Gelsi
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(END) Dow Jones Newswires
April 04, 2023 08:15 ET (12:15 GMT)
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