Forever 21 preparing for potential bankruptcy

National News

Clothing retailer Forever 21 may be getting ready to file for bankruptcy.

Bloomberg News is reporting that the company is preparing for a Chapter 11 filing.

Forever 21 has been working with consultants in an effort to restructure its debt.

The company has also been trying to get additional financing, but so far nothing has come through.

According to Bloomberg, bankruptcy could actually help Forever 21’s bottom line, because it would be able to recapitalize and get rid of stores that aren’t making money.

But the move could cause problems for mall owners, since the company has a significant mall presence.

Forever 21 was founded in 1984 and currently operates more than 800 stores around the world.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Local News Video

Panhandle athletic directors weigh in on potential fall sports seasons

Thumbnail for the video titled "Panhandle athletic directors weigh in on potential fall sports seasons"

Main Street Defuniak Springs names new executive director

Thumbnail for the video titled "Main Street Defuniak Springs names new executive director"

seaside pushes for mask ordinance

Thumbnail for the video titled "seaside pushes for mask ordinance"

Prostitution operation busted in Lynn Haven

Thumbnail for the video titled "Prostitution operation busted in Lynn Haven"

Food Giveaway

Thumbnail for the video titled "Food Giveaway"

13NOW | Gov. DeSantis holds news conference in Orlando

Thumbnail for the video titled "13NOW | Gov. DeSantis holds news conference in Orlando"
More Local News