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Cosmetics giant Revlon files for bankruptcy, shares plunge

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In its bankruptcy filing, Revlon said supply chain disruptions prompted intense competition for ingredients used to make its products.

Cosmetics maker Revlon has filed for bankruptcy, falling victim to global supply chain disruptions that pushed up raw material costs and prompted vendors to demand upfront payments.

At the same time, vendors that traditionally offered up to 75 days for payment began demanding cash in advance of new orders, while labour shortages and inflation added to its troubles.

 

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