06-17-2022, 09:56 AM
![[Image: 220px-Revlon_logo.svg.png]](https://upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Revlon_logo.svg/220px-Revlon_logo.svg.png){kind=logo}
Revlon, best known for its cosmetics, files for Chapter 11.
On June 16, 2022, Revlon filed for Chapter 11 bankruptcy protection after struggling with debt, rising competition, supply chain challenges, and falling behind evolving beauty standards.[31][32] A few hours after the bankruptcy announcement, Revlon's shares lost more than 13% of their value.[33] According to a filing with the U.S. Bankruptcy Court for the Southern District of New York, Revlon listed assets and liabilities between $1 billion and $10 billion. Revlon which had been managed by Perelman's daughter Debra Perelman since mid-2018, had long-term debt of $3.31 billion as of March 31, 2022.[34] This comes after avoiding bankruptcy in 2020. It was one of the last remaining holdings of Ronald Perelman.[35] Bloomberg News reported that the company's bankruptcy process could be "complicated by financial controversies."[36]
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.