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Evening Standard
Evening Standard
Business
Mark Banham

Cosmetics giant Revlon files for bankruptcy

Revlon Debra Perelman Elizabeth Arden

Cosmetics giant Revlon has filed for Chapter 11 bankruptcy

(Picture: Revlon)

Cosmetics giant Revlon has filed for bankruptcy as the beauty brand struggled to cope with mounting debts it had built up to compete with online retailers and youth-focused celebrity-backed make-up ranges.

The business owns a series of high-profile companies including Elizabeth Arden and Almay, and has also partnered with US celebrities Britney Spears, Megan Thee Stallion and Sofia Carson. Revlon bought Elizabeth Arden for $870m (£710 million) in 2016.

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