Forever 21 is... BANKRUPT!

[☑︎#VoteDemocrat]

Bloomberg - Are you a robot?

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Bloomberg ›


Forever 21 Prepares for Potential Bankruptcy Filing
Lauren Coleman-Lochner August 28, 2019
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.

A bankruptcy filing would help the company shed unprofitable stores and recapitalize the business, said the people, who requested anonymity discussing private negotiations. Representatives for Forever 21 didn’t respond to a request for comment.

Co-founder Do Won Chang had been focused on maintaining a controlling stake in the company, which limited its fundraising options.

A faction of Forever 21 officials, without the approval of Chang, had asked its biggest landlords to consider taking a stake in the company amid a disagreement within its leadership, Bloomberg previously reported.

Founded in 1984, Forever 21 operates more than 800 stores in the U.S., Europe, Asia and Latin America.

 

[Regine Hunter]

Finna get my shop onnnnnnn

 

[KingJay]

Wasn't it Forever 21 that was sending diet bars to people who ordered anything plus size?
Dumbasses

 

[TEH]

They Killed themselves

Should have gradually made the brand more exclusive

 

[I Really Mean It]

Most women are too broke to shop there, and the ones with money have have alternatives whose garments are of far superior quality. The only Mall store worth spending your money at is J. Crew. Every other store is hawking cheaply made garbage.

 

[Amestafuu (Emeritus)]

The game changed fast on them. Big clothing chains are struggling.

 

[IVS]

Damn. I just feel bad to the teens and folks who are going to lose their jobs as this trend continues

 

[Malcolmxxx_23]

H&M NEXT

 

[Cynic]

Most women are too broke to shop there, and the ones with money have have alternatives whose garments are of far superior quality. The only Mall store worth spending your money at is J. Crew. Every other store is hawking cheaply made garbage.

E-commerce is putting a lot of brands out of business.

 

[Unknown Poster]

H&M NEXT

Havent shopped there since that "coolest monkey in the jungle" debacle...it would be poetic justice to me if they went bankrupt.

 

[chkmeout]

Most women are too broke to shop there, and the ones with money have have alternatives whose garments are of far superior quality. The only Mall store worth spending your money at is J. Crew. Every other store is hawking cheaply made garbage.

Forever 21 too expensive???

 

[Luke Cage]

All the teens and tweens that were shopping there in 00s are grown now and their tastes have changed. Should've catered to the forever 40+ crowd. They still wear the same shyt.

 

[Dorian Breh]

Unlikely this will be the end of 21. They'll close at least 300 stores but the rest survive I think. Someone will save them, even for just the brand and website.

 

[King Poetic]

Retail... no surprised,, others will be joining them soon

 

[8WON6]

lots of incompetent people as execs in these companies. been trying to tell people. All those people that get their degress via college admission and beyond scandals end up the high ranking execs in these companies. In the pre internet days, all they had to do was just keep shyt going, now they have to innovate and they don't know how to do shyt.