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Forever 21 is preparing for potential bankruptcy filing



Forever 21 is preparing for a potential bankruptcy filing as the fashion retailer's cash declines and turnaround options disappear, according to Bloomberg.

The sale cited people with knowledge of the plans saying that the company has been in talks for further funding and working with a team of advisors to help it restructure its debt.

However, negotiations with potential lenders have hitherto stopped.

A bankruptcy filing would help the company shed unprofitable stores and recapitalize the business, sources tell Bloomberg.

Representatives of Forever 21 did not respond to a request for comment.

Forever 21 operates more than 800 stores in the United States, Europe, Asia and Latin America.

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