Beauty brand Avon Products filed for Chapter 11 bankruptcy to address its debt burden and legal liabilities from lawsuits related to allegedly contaminated talc-based products.
Avon Products filed for Chapter 11 bankruptcy on Monday as the beauty brand looks to address its debt and legal liabilities stemming from lawsuits that alleged its talc-based products were contaminated with cancer-causing substances. The holding company hasn't sold Avon products in the U.S. since it divested its North America business in 2016, but remains the holding company for the Avon brand's operating entities outside the U.S.
Since becoming CEO earlier this year, I am increasingly energized by our strength and opportunities, supported by our valued Associates and nearly 2 million Representatives around the world." Avon's operations outside the U.S. are excluded from the legal proceedings and will continue to operate as normal while the process plays out. J&J HAS ENOUGH SUPPORT FROM CLAIMANTS FOR $6.5 BILLION TALC SETTLEMENT: REPORT Natura & Co.
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