renowned manufacturer of cosmetics Avon declares bankruptcy.

The proprietor of the well-known Avon cosmetics company, which is well-known for its door-to-door salespeople, has declared bankruptcy as a result of litigation claiming that talc in its products causes cancer. This week, Avon Products Inc. submitted its claim in the US, according to the Bloomberg agency. According to court filings, the multinational beauty business is attempting to resolve 386 distinct talc-related complaints.In court filings, the company's chief restructuring officer stated that it lacks "sufficient liquidity to litigate and/or settle" the personal injury cases, which have cost it $US225 million ($338 million) to date. Without a long-term solution, the business anticipates that the number of litigation will rise.

In response to disputes involving the selling of talc goods, Avon goods is the most recent corporation to file for bankruptcy.The massive pharmaceutical and medical technology company Johnson & Johnson has made several unsuccessful attempts to use bankruptcy to reach a settlement with litigants. After operating in Australia for more than 50 years, Avon discontinued its operations there in 2018. In the early 1960s, salespeople known as "Avon ladies" went door-to-door distributing pamphlets promoting jewelry, accessories, and cosmetics to households all throughout the nation. In 1886, a door-to-door salesman in New York established Avon.