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Home / Business / Forever 21 & # 39; Preparing for Bankruptcy & # 39; Twitter wants & # 39; to close sales & # 39;

Forever 21 & # 39; Preparing for Bankruptcy & # 39; Twitter wants & # 39; to close sales & # 39;



Forever 21 is preparing for a possible bankruptcy, it was reported on Thursday – But all Twitter heard was "closing the sale."

Supporters of the clothing store apparently had little sympathy for the retailer's 30,000 employees or so, focusing instead on getting discounts on the already heavily discounted items.

The news came via Bloomberg who claimed the company is considering entering Chapter 11 amid falling sales. The publication claimed that the negotiator had been in talks with lenders to restructure the debt, but the negotiations had stopped.

LA's headquarters has 800 stores in the United States and around the world; Bankruptcy would allow it to dump its unprofitable places.

And, as Twitter quickly realized, closing out stores means getting rid of excess inventory.

Along with the many memes to people rushing to pick out carcasses, much of social media pointed out what they thought was the reason behind the company's potential fall, including Flamin & # 39; Hot Cheetos and United States Postal Service collections .

According to Bloomberg, closing Forever 21

would cause major problems for mall owners, who consider it one of their biggest remaining tenants amid a wave of retail bankruptcies.

Without anyone to fill the empty spaces, landlords may consider taking a stake in the retailer to avoid it; Bloomberg reported that while co-founder Do Won Chang wants to maintain his controlling stake, dissatisfied company officials have proposed such a deal to landlords without his approval.

See some of the reactions to the news below:

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