Revlon’s road to bankruptcy

Business

Revlon Inc (REV.N) filed for Chapter 11 bankruptcy protection late on Wednesday as the debt-laden cosmetics company struggled to take on rising competition from celebrity-backed startups in recent years.

Revlon, which was founded in 1932 as a nail paint maker, is controlled by billionaire Ron Perelman’s MacAndrews & Forbes and counts celebrities Gal Gadot and Megan Thee Stallion among its brand ambassadors.

Here’s a timeline of Revlon’s journey from a cosmetics giant to a debt-ridden firm: