Ron Perelman has bought and sold dozens of companies over the years, but he’s never let go of Revlon, the firm that made him famous after a 1985 hostile takeover.
“I love the business. I love the industry,” Perelman told The Wall Street Journal in 2006. “For good or bad, I’m most defined by Revlon.”
But the 79-year-old billionaire’s hold is now in doubt after Revlon filed for Chapter 11 bankruptcy reorganization late Wednesday.
The durable consumer brand has struggled financially for many years due in part to a debt burden that originated with the 1985 takeover war. Under Chief Executive Debra Perelman, Ron’s daughter, Revlon posted
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