However, the company's financial woes extend beyond the talc litigation. Avon's debts include a staggering $1.29 billion owed to lenders and bondholders. The COVID-19 pandemic, increased market competition, and the Russia-Ukraine war have all contributed to a significant decline in revenues and liquidity constraints.

In a move to provide support during this challenging time, Brazilian beauty conglomerate Natura & Co, a lender to Avon, has offered up to $43 million in proposed financing as part of the bankruptcy process. Natura has also expressed interest in serving as a lead bidder as Avon seeks to sell assets during the bankruptcy proceedings.

As Avon navigates this complex legal and financial landscape, the company remains focused on advancing its international business strategy, including modernizing its direct selling model and reigniting the brand to accelerate growth. CEO Kristof Neirynck has expressed optimism about Avon's strengths and opportunities, supported by its valued associates and nearly two million representatives worldwide.