Forever 21 is preparing for potential bankruptcy filing, report says

by MR Magazine Staff

Another women’s clothing store chain is reportedly close to filing for bankruptcy protection. Teen retailer Forever 21 Inc. is preparing for a potential filing as its turnaround options fade, Bloomberg reported Wednesday, citing people with knowledge of the plans. According to Bloomberg, Forever 21 hired a team of advisers to help restructure its debt and has been in talks for additional financing, but negotiations with possible lenders have stalled. Read more at USA Today.