June 18, 2022 - 8:00am | By Kyle Cornell
(New York NY) -- Cosmetics giant Revlon is filing for bankruptcy protection.
It comes as the company has faced challenges from upstart brands recently. Revlon's sales have struggled as it has had to deal with supply chain issues and losing shelf space to new brands backed by celebrities such as Kylie Jenner and Rihanna.
The company was founded by Charles Lachman and brothers Charles and Joseph Revson in 1932. Its sales fell 22-percent last year from its 2017 numbers.
