June 15, 2022 – Jonathan Pasternak, Partner in Bankruptcy, Restructuring, Creditor-Debtor Rights law practice was interviewed by Women’s Wear Daily (WWD) for their coverage of Revlon’s Chapter 11 filing.
The 90-year-old NY beauty company whose brands include namesake Revlon, Elizabeth Arden and Almay, had been struggling with heavy debt listed at $3.7B since 2020.
Jonathan pointed out that “as for what bankruptcy proceedings are likely to mean in the case of Revlon, it will more likely revolve around reorganization as opposed to asset sales.
“Of course the alternative is they have a very valuable set of brands that could be marketed and auctioned off if a traditional reorganization doesn’t happen but I believe right now that they’re actually on a reorganization track,” he said. “They need to get modern, they’ve got to really break out into social media, get behind their new celebrity brands because that’s where they’re really getting hit on competition. They’ve got to take advantage of social networking, including virtual sales.”
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