By
Reuters API
Reuters API
Published
Aug 29, 2019
Aug 29, 2019
Forever 21 prepares for potential bankruptcy filing
By
Reuters API
Reuters API
Published
Aug 29, 2019
Aug 29, 2019
Fashion retailer Forever 21 Inc 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.
Forever 21 is looking to secure a potential debtor-in-possession loan to take the company into Chapter 11, even as some window remains to strike a last-minute deal, the report added.
The company did not immediately respond to a Reuters request for comment.
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