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Forever 21 reportedly considering filing for bankruptcy

Forever 21 may have run out of options to restructure its debt.

The formerly high-flying fast-fashion chain is weighing filing for Chapter 11 bankruptcy protection as efforts to restructure its debt and line up additional financing stall, reported CNBC. Forever 21 reportedly brought on restructuring advisors in June and has been reviewing its options.

Based in Los Angeles, Forever 21 operates more than 800 stores globally, with the majority located in malls. It is Simon’s seventh-largest in-line tenant in terms of how much rent it brings the landlord, with 99 stores across Simon’s portfolio, the CNBC report said.

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