Avon Products Files for Bankruptcy to Wrangle Talc Lawsuits.

Avon Products Inc., the beauty brand known for its door-to-door saleswomen, has filed for bankruptcy due to a surge in lawsuits claiming that talc in its products causes cancer. The company has already spent $225 million on defending personal injury lawsuits and settlements and does not have enough funds to continue litigating or settling the cases. Avon Products is the latest company to seek bankruptcy to address talc-related lawsuits, following in the footsteps of Johnson & Johnson. As part of the bankruptcy filing, Avon's assets will be marketed, with Natura & Co offering to buy it for $125 million. The Avon brand in the US is currently owned by LG Household & Health Care Ltd. and is not affected by the bankruptcy. [Extracted from the article]