Revlon Inc.'s bankruptcy attorneys said in court yesterday that the cosmetics company is engaging with possible purchasers as a way to exit from chapter 11 as quickly as possible, Reuters reported. Revlon attorney Paul Basta told U.S. Bankruptcy Judge David Jones in Manhattan that the company is ready to move onto the next stage of its bankruptcy after stabilizing its relationship with vendors and completing a long-term business plan. Revlon is exploring a possible sale of the company and has begun sending nondisclosure agreements to interested bidders, Basta said. Revlon junior creditors argued in court that rushing toward a sale before the 2022 holiday season would only benefit senior lenders who forced the company to accept unrealistic deadlines as part of Revlon's $1.4 billion bankruptcy loan.
