Revlon seeks exclusivity extension as it aims for April emergence

By Sarah Lizee

Olympia, Wash., Jan. 6 – Revlon, Inc. is seeking a 110-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan through May 9, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

Revlon filed a Chapter 11 plan and related disclosure statement on Dec. 23 after reaching a restructuring support agreement with stakeholders.

The plan aims to cut down Revlon’s debt by about $2.7 billion, reduce annual interest expense by about $200 million, provide meaningful recoveries to unsecured creditors, and capitalize the reorganized debtors with roughly $2.45 billion of new money debt and equity investments.

Under a timeline incorporated in the RSA, the debtors are hoping for confirmation by April 3 and emergence by April 17.

The company said it is seeking the extension to continue the progress made to date and bring the Chapter 11 cases to a successful resolution.

A hearing is scheduled for Jan. 19.

The hair color products and cosmetics company is based in New York. The company filed bankruptcy on June 15, 2022 under Chapter 11 case number 22-10760.

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