Revlon has filed for bankruptcy?
Revlon, a cosmetics maker that broke racial barriers and dictated beauty trends for much of the last century, has filed for Chapter 11 bankruptcy protection in the US. The application was made because of the company's amassing debts and increased celebrity competition. The company is having liquidity problems due to this situation. The beauty company was founded by Jewish American brothers Charles and Joseph Revson, together with chemist Charles Lachman, in New York in 1932.