Revlon Sheds $2.7 Bln Of Debt And Emerges From Bankruptcy As A Private Company -- MarketWatch

Dow Jones

Apr 04, 2023

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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April 04, 2023 08:15 ET (12:15 GMT)

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(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. \n</p>\n<p>\n  -Steve Gelsi \n</p>\n<p>\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n</p>\n<p>\n  This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. 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(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. \n</p>\n<p>\n  -Steve Gelsi \n</p>\n<p>\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n</p>\n<p>\n  This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. 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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. \n\n\n  -Steve Gelsi \n\n\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n\n\n  This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 04, 2023 08:15 ET (12:15 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}