Those alternatives could include potential sales of all or parts of the business, according to Bloomberg's sources.
While the New York company has not decided on a path yet, all options are on the table, according to the report.
Revlon couldn't immediately be reached for comment.
The company has more than $3 billion of debt on its balance sheet, Bloomberg reported.
The stock was at $15.89 in afternoon trading Thursday.
It's been trading near its 52-week low of $13.58 in recent weeks and is now more than half its $29.62-per-share 52-week high.
Goldman Sachs is a key holding in Jim Cramer's Action Alerts PLUS charitable trust.