Well-known manufacturer of cosmetics Avon gone burst. . In an effort to resolve its debt and legal obligations resulting from lawsuits alleging that its talc-based products were tainted with chemicals that cause cancer, Avon Products filed for Chapter 11 bankruptcy on Monday.
Since selling off its operations in North America in 2016, the holding company has stopped selling Avon products in the United States, but it continues to serve as the parent company for the Avon brand’s international operations.
Avon is known for selling cosmetics, skin care, perfume and personal care products, as well as the company’s door-to-door saleswomen.
John Dubel, chair of Avon Products, stated in a release that “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.”
