A U.S. judge on Monday approved Revlon Inc.’s reorganization plan, allowing the cosmetics maker to cut $2.7 billion from its debt and exit bankruptcy later this month.
U.S. Bankruptcy Judge David Jones in Manhattan, who has been overseeing the company’s Chapter 11 bankruptcy, said Revlon had reached “a hard-fought multi-faceted settlement” that resolves a “series of enterprise-threatening” risks to the business, including “debilitating” litigation among its lenders.
