Revlon Files Bankruptcy Amid Supply Woes, Loan Controversy (3)

Revlon Inc. filed for Chapter 11 bankruptcy as the global supply chain crunch proved the tipping point for the debt-laden company that has struggled to tap into a broader cosmetics sales boom driven by social-media influencers.

The bankruptcy caps a tumultuous period for the cosmetics giant, owned by billionaire Ron Perelman’s MacAndrews & Forbes, which suffered during the pandemic after years of declining sales and endured financial controversies that the company said Thursday could “impede” its restructuring process.

At issue is a disputed asset transfer largely in 2020, which saw Revlon stave off default by cutting a deal ...