Revlon stock now officially worthless

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auntblabby
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27 Dec 2022, 5:57 pm

just read this in the newspaper- Revlon stock is now officially worthless. according to a filing on Monday of last week, a new restructuring support agreement calls for doling out ownership stakes in Revlon to secured lenders, while mostly wiping out the company's lowest-ranking creditors and leaving existing stockholders with nothing.



r00tb33r
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27 Dec 2022, 6:05 pm

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Well, that blows.

Better question is, where did you get a newspaper???


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naturalplastic
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27 Dec 2022, 6:54 pm

I count inventory for stores. Does that mean all of those four foot store sections devoted to Revlon products are going to be taken out? But Maybelline, Loreal and Sally Hanson will remain?



Last edited by naturalplastic on 27 Dec 2022, 7:20 pm, edited 1 time in total.

IsabellaLinton
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27 Dec 2022, 7:11 pm

That's so sad. I hate when big companies collapse.



auntblabby
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27 Dec 2022, 7:14 pm

the post was about revlon STOCK meaning how their stockholders were left holding the bag for this corporate reorganization where ownership of revlon Inc. was transferred to the leading creditors, everybody else be damned. sure glad i never owned any of that stock which turns out was delisted in october, i found out. revlon as a corporate entity will go on for now [don't know what will happen to their products], that is the whole point of the corporate reorganization which unfortunately screwed over mom and pop investors.