Avon Products Files for Bankruptcy to Wrangle Talc Lawsuits (1)

Avon Products Inc., owner of the beauty brand known for its door-to-door saleswomen, filed for bankruptcy after facing a wave of lawsuits alleging talc in its products caused cancer.

The company filed for Chapter 11 in Delaware on Monday as it seeks to address 386 individual talc-related cases, according to its petition.

The firm has already incurred in $225 million of costs defending personal injury lawsuits and settlement payments and doesn’t have “sufficient liquidity to litigate and/or settle” the cases, its Chief Restructuring Officer Philip Gund said in court filings. The company expects the number of lawsuits “will ...