According to Bloomberg, Forever 21 Inc. is preparing for a potential bankruptcy filing. This comes as the retailer is running out of cash and its turnaround options are beginning to fade.
The retailer has been in talks to receive additional financing and to work with a team of advisors to help to restructure its deb, but so far, the negotiations have stalled.
Bankruptcy would help the company close unprofitable stores and recapitalise the business.
