You can seemingly kiss Avon Products, Inc. goodbye, as the legendary beauty brand filed for Chapter 11 bankruptcy on Monday. The filing comes as the brand seeks to address its debt and legal liabilities caused by lawsuits that claim that its talc-based products were riddled with cancer-causing substances, both Fox News and New Beauty have reported.
Avon products haven’t been sold in the U.S. since its holding company got rid of the North America business in 2016.
Avon’s international business is not part of the filing. “It is business as usual in Avon’s international markets,” the case states. “The Avon Company, which is the Avon brand in the U.
S., is also not part of the proceedings.” If you can recall, Avon has long been known for selling cosmetics, skincare, perfume and personal care products, mainly via the company’s door-to-door saleswomen.
“Today’s action and the proposed sale of Avon’s non-U.S. operations will maximize the value of our assets and enable us to address our obligations in an orderly manner,” John Dubel, chair of Avon Products, said in a release.
“We remain focused on advancing our business strategy internationally, including modernizing our direct selling model and reigniting the brand to accelerate growth,” Kristof Neirynck, CEO of Avon, said. “Since becoming CEO earlier this year, I am increasingly energized by our strengths and opportunities, supported by our valued associates and nearly two million representatives around .