"Cosmetics giant Revlon is facing a fight to stay alive as it suffered its biggest one-day share price drop on record and it reportedly prepares to file for bankruptcy. The global brand has been suffering amid fierce competition in the cosmetics industry, global economic pressures and supply-chain issues. However, it went from bad to worse overnight as the company took an almighty hammering on the stock market, dropping 53 per cent on Friday to $2.05 a share. This came amid a report by news outlet Reorg stating the cosmetics empire is preparing to file for bankruptcy. The company, controlled by billionaire Ronald Perelman, could file as soon as next week, Reorg said, citing unnamed sources."
https://www.nzherald.co.nz/business/cosmetics-giant-revlon-facing-bankruptcy-biggest-share-price-drop/CK3CK7H235TU4PDEW5GW47S5MQ/