Headlines

Forever 21 Looks at Restructuring

As it struggles with business, it’s trying to shore up its liquidity

Published

5 years ago

June 4, 2019

VMSD Staff

Forever 21 (Los Angeles) is reportedly looking toward restructuring, as it “struggles with its business,” according to CNBC.

The retailer is allegedly in talks about raising debtor-in-possession funds to provide financing for potential bankruptcy with Apollo Global Management (New York), CNBC reports.

First quarter results for apparel as a group is down 24 percent, and the last time numbers were this dire was in the first quarter of 2008 when they fell by 40 percent, says CNBC.

Currently, Forever 21 has more than 815 stores.

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