Beauty Icon Revlon Files For Chapter 11 Bankruptcy

It's the first major bankruptcy of a rocky economy that many experts think could be headed for recession.

Beauty megabrand Revlon is going bankrupt. 

The company is filing for Chapter 11 protection this week in the first major bankruptcy of a rocky economy that many experts think could be headed for recession. 

"Whether we technically get to a recession or not, we don't know, but we think it is unfortunately going to be heading in that direction," Investment Portfolio Manager Jim Russell said.