Avon’s parent group, Avon Products, has filed for bankruptcy. It recently filed for Chapter 11 bankruptcy protection in the US to offload more than $1 billion in debt and impacts from lawsuits. Lawyers have argued there is a link between Avon talc products and cancer, and claimed Avon’s products are contaminated with asbestos. Avon has consistently denied the claims and said it only uses “cosmetic grade talc which has been tested to confirm that it does not contain asbestos”.

Natura has suggested buying back its trading operations outside the US for $125 million once the bankruptcy process is complete. The bid will be subject to a court-supervised auction process and Natura will control Avon’s businesses and debts if successful. Avon will continue to trade as usual and no further job cuts are expected.