It

 

Cosmetics giant Revlon files for Chapter 11 bankruptcy protection

most assuredly will not be the last.

"Revlon’s bankruptcy filing said the company is currently unable to timely fill almost one-third of customer demand for its products, due to an inability to source a “sufficient and regular supply of raw materials.” Shipping components from China to the United States takes Revlon eight to 12 weeks and costs four times 2019 prices, it said."

"Now, however, as inflation rages, interest rates rise and consumers begin to pull back spending on discretionary items, experts predict more retail companies will be pressured to restructure. Particularly as many of these businesses grapple with ongoing supply chain challenges that have left them with the wrong inventories.

(When people had $ everything was locked down and they couldn't spend it, (except online) now that stores have their inventories stocked back up to battle supply chain issues? Inflation is raging and people cant afford to many discretionary items.)

'Start-ups including Glossier, Kylie Jenner’s Kylie Cosmetics and Rihanna’s Fenty Beauty have also challenged Revlon as it vies for younger consumers’ dollars."

"The business grew over the years through acquisitions, including of Coty’s Cutex business and Elizabeth Arden. In addition to its namesake makeup banner, its portfolio also includes Almay, American Crew and Britney Spears Fragrances."