FOREVER 21 PREPARES FOR POSSIBLE BANKRUPTCY

Looks like Forever 21 may not actually be *forever* as the fast fashion company is reportedly preparing for a potential bankruptcy filing.

Forever 21 (Photo: iStock)

FOREVER 21 PREPARES FOR POSSIBLE BANKRUPTCY FILING AS CASH DWINDLES
The company has been in talks for additional financing, but negotiations with possible lenders have so far stalled, sources say

Forever 21 Inc. is preparing for a potential bankruptcy filing as the fashion retailer’s cash dwindles and turnaround options fade, according to people with knowledge of the plans.

The company has been in talks for additional financing and working with a team of advisers to help it restructure its debt, but negotiations with possible lenders have so far stalled, the people said. Focus has thus shifted toward securing a potential debtor-in-possession loan to take the company into Chapter 11, they said, even as some window remains to strike a last-minute deal that keeps it out of court. READ MORE


FOREVER 21 BANKRUPTCY FILING IN THE WORKS: REPORT
No word yet on whether or not stores are closing.

(Reuters) ― Fashion retailer Forever 21 is preparing for a potential bankruptcy filing, Bloomberg reported on Wednesday, citing people with knowledge of the plans.

The company has been in talks for additional financing and is working with a team of advisers to help restructure its debt, but negotiations with possible lenders have so far stalled, Bloomberg reported. READ MORE


FOREVER 21 MIGHT FILE FOR BANKRUPTCY, HERE’S WHERE TO SHOP (ETHICALLY) INSTEAD
Guys, it’s going to be OK

Looks like Forever 21 may not actually be *forever* as the fast fashion company is reportedly preparing for a potential bankruptcy filing.

According to Bloomberg, people who are in the know about the plans (but wish to remain anonymous) say the company has been struggling to pay vendors and landlords and has been seeking out ways to “revive its business.” CNBC notes this may be due to the L.A.-based retailer being located in malls, where fewer shoppers are spending their money as they’re opting for online retailers like Lulus and Fashion Nova instead. Forever 21 also reportedly brought in a team of advisers to help restructure its debt and was in talks for additional financing, but negotiations have been stalled, hence the potential bankruptcy filing. READ MORE

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