Owner of Avon in UK files for bankruptcy in attempt to off-load $1bn debt
by Sarah Butler from World news | The Guardian on (#6PYDY)
Avon Products Inc, subsidiary of Natura, says it does not have liquidity to solve 386 talc-related lawsuits
The owner of the beauty brand Avon in the UK, Europe and Latin America has filed for bankruptcy as it tries to off-load more than $1bn of debt, including millions of dollars in liabilities linked to lawsuits alleging that talc in its products caused cancer.
Avon Products Inc (API), a subsidiary of Brazil's Natura which bought Avon's non-North American trading businesses in 2020, has filed for Chapter 11, the American version of administration.
Continue reading...