Revlon, beauty icon in crowded market, files for bankruptcy

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Revlon, a cosmetics maker that broke racial barriers and dictated beauty trends for much of the last century, is filing for Chapter 11 bankruptcy protection. The company has been a mainstay on store shelves since its founding 90 years ago in New York City as it oversaw a stable of household names, from Almay to Elizabeth Arden. Revlon failed to keep pace with changing tastes, however, slow to follow women as they traded flashy red lipstick for more muted tones in the 1990s. The company will continue to operate as it restructures debt.