¿What’s happening with Avon in Mexico?The well-known brand in the field of cosmetics and other beauty products, announced that declared bankruptcy in the United States.
Through a statement, the company from New York reported that it voluntarily began the process to file for bankruptcy before the Bankruptcy Court.
But,What’s happening with Avon in Mexico? due to the declaration of bankruptcy that the company made before the authorities of USAWe’ll tell you all the details.
Avon (Especial)
Avon files for bankruptcy in the United States
Last Monday, August 12, Avon Products Inc formally announced that it has voluntarily accepted to Chapter 11before the Bankruptcy Court for the District of Delaware.
That is to say that the iconic beauty products brand which is recognized thanks to its catalog sales model, filed for bankruptcy in the United States.
In a statement, Avon explained that the decision to file for Chapter 11 bankruptcy was made in order to Dealing with debts and lawsuits which he maintains in the United States.
The above is due to the fact that in recent months, the company was singled out by the authorities of that country, for sell talcum powder products related to cancer cases.
In the same advertisement, Avon highlighted that by declaring bankruptcy, will be able to attend to the 386 individual cases which were presented due to the use of their talc products.
In addition, Avon noted that as a result of the criminal proceedings against it, it has already spent $225 million for defense and settlement payments to plaintiffs.
Due to the expense it has made, the cosmetics brand that operates internationally, ruled that does not have “sufficient liquidity” to litigate and/or resolve” the cases.
What will happen to Avon in Mexico?
For the declaration of bankruptcy what did he do Avon before the United States authoritiesdoubt has arisen about what it is What will happen to the brand in Mexico.
In this regard, the company announced that the various cosmetics and products stores of beauty that there is in Mexico, will continue to operate in complete normality.
In this regard, the firm explained in the statement that stopped operating in the United Statesbecause the authorities of that country He was given a suspension.
However, he stressed that the restrictive action, as well as the decision to file for Chapter 11 bankruptcy, It only has effects for business in US territory.
Avon (Experts)
2024-08-14 09:17:51