Can't carry it?This cosmetics giant will apply for bankruptcy

According to the US Fox News Network on the 12th, people familiar with the matter revealed that U.S. Cosmetics Company Louvon applied for bankruptcy protection as soon as possible next week.The company has been challenged by too much debt, fierce competition in the cosmetics market, and recent inflation and supply chain pressure.

Picture according to the official flagship store of Lumanon

It is understood that this cosmetic manufacturer was owned by billionaire Ron Pereerman and has been reorganizing and negotiating with major loan institutions, and related debt will expire in September next year.Applying for bankruptcy will end Pereerman's control of Louvon.

It is reported that consumers' shopping has returned to the level near the epidemic, and due to this boost, Louvon's sales in the last quarter have risen by 8%.However, according to a report issued by the S & P Global Rating Company in April, Louvon's business prospects still face challenges, and the company needs to raise funds for liquidity needs.

Source: CCTV Finance

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