Revlon emerges from bankruptcy with new board and new owners

Revlon Inc. emerged from Chapter 11 bankruptcy on Tuesday, as a privately held company with new owners, reduced debt and a new board. The majority of the company’s reorganized equity is now owned by its former lenders. Revlon, a cosmetics maker that broke racial barriers and dictated beauty trends for much of the last century, filed for Chapter 11 bankruptcy protection in June 2022. Its latest results look promising. Net sales for the first quarter were $490 million, surpassing the $483 million forecasted in the company’s business plan set forth last December. Operating income was $51 million, higher than the $19 million projected in its plan.