Forever 21 May Be Planning To File For Bankruptcy

Forever 21 is considering filing for bankruptcy due to difficulties in restructuring its debt. The company is seeking a debtor in possession loan to support a Chapter 11 filing, which would allow it to close unprofitable stores and revamp its business. With over 800 stores in 57 countries, the potential bankruptcy highlights the struggles of traditional retailers as consumer preferences shift towards online shopping. Similar challenges have led to bankruptcies for other retailers like Wet Seal and American Apparel.

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