Cosmetics giant Revlon files for bankruptcy, blames supply chain snags June 17 Cosmetics maker Revlon Inc has filed for bankruptcy, falling victim to global supply chain disruptions that pushed up raw material costs and prompted vendors to demand upfront payments. Known for its nail polishes and lipsticks, the 90-year-old company in recent years has lost shelf space and sales to startups backed by celebrities such as Kylie Jenner''s Kylie Cosmetics and Rihanna''s Fenty Beauty. In its bankruptcy filing, Revlon said supply chain disruptions in the spring prompted intense competition for ingredients used to make its products. At the same time, vendors that traditionally offered up to 75 days for payment began demanding cash in advance of new orders, while labor shortages and inflation added to its troubles, it said. "For example, one tube of Revlon lipstick requires 35 to 40 raw materials and component parts, each of which is critical to bringing the product to market," Robert Caruso, who was hired as Revlon''s chief restructuring officer, wrote in a court filing. "With shortages of necessary ingredients across the company''s portfolio, competition for any available materials is steep." The COVID-19 pandemic has lengthened ship delivery times since 2020, pushing up freight costs, while the Russia-Ukraine conflict and lockdowns in Shanghai have added to supply chain disruptions this year.