Revolution Beauty’s founders return as sale falls through

The problematic fashion brand Revolution Beaute brought back the former bosses after not securing a buyer to “reset”.

The founding partners resigned after a series of accounting problems, but on Friday, the company would return to the couple’s fall sales on Friday to fight.

Revolution, which sells makeup and cosmetics with online and privileges, said that she has not received an appropriate offer since it launched a sales process earlier this year and as a result she no longer calls a buyer.

Frasers Group, owned by businessman Mike Ashley, said he did not plan to submit after discovering a possible offer before.

As part of the attempt to reverse the low -cost make -up company, Revolution Beauty said it would try to increase new shares by exporting new shares.

It was reported that the cosmetics company rejected an offer from the private capital company at the beginning of this month.

President Iain McDonald said this is “a great brand, but lost the workplace.”

While selling Revolution Beauty products through retailers and online fashion websites including SuperDrug and Boots, he has a strong presence on social media and worked with impressive and Love Island contestants.

Mr. Allsworth returns as the general manager of the company, while Mr. Minto will play a consulting role with a salary of £ 160,000 per year.

The company will “realize a new and renewed strategy for the beauty of the revolution and to return to long -term profitability”.

By 2027, more cost savings are expected to include the cutting of personnel to increase extra 7.5 million pounds.

Mr MINTO was left as General Manager in 2022 After accounting problems, Devrim delayed the results of the 2022 and his shares were suspended.

Minto and Mr. Allsworth also claimed that they gave personal loans to a employee and the distributors who were not explained to a board.

Mr. Minto agreed to pay about £ 3 million to solve problems.

On Friday, the company announced a 25.5% decrease in sales in the last financial year, and income is 142.6 million in 12 months in February 28.

In addition, £ 11.4 million in the previous year reported damage to 16.8 million pounds from profit.

“We are sure that it is an open way to grow to grow and create a long -term value with a return to the founding leadership management team that initially scale the brand.”

Revolution Beauty’s share price increased by 10.4% after announcement.