Revlon says supply chain disruptions have driven up the cost of raw materials for its products.
The 90-year-old firm says it has also been struggling with supplier payments, inflation, and labor shortages.
It expects to receive $575m from its existing lenders to support day-to-day operations.
Its shares lost more than 13% in New York trading after the announcement.
Revlon has filed for bankruptcy protection in the US and will be able to continue operating while working out a plan to repay its creditors.
The company was formed in 1932 by brothers Charles and Joseph Revson and Charles Lachman and started selling nail polish soon after.
By the mid-1950s it had become an international brand and was bought by billionaire businessman Ronald Perelman’s MacAndrews & Forbes in 1985.
This report’s information was first seen on BBC; to read more, click this link.
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