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Fast-fashion giant reportedly eying restructuring

Forever 21 continues to struggle in a challenging environment for mall-based teen apparel retailers.

The family-owned fast-fashion retailer is in discussions with potential lenders and restructuring advisers to help turnaround its struggling business, reported Bloomberg. It has spoken with Apollo Global Management about raising debtor-in-possession funds to provide financing should it file for bankruptcy, according to the report.

Forever 21 has more than 815 stores in the U.S. and worldwide. In April, it shut down its Chinese e-commerce site. It also has closed its stores in Taiwan.

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