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Fashion Forever 21 preparing for potential bankruptcy filing, says Bloomberg

Thursday, August 29th 2019 - 08:05 UTC
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The company has been in talks for additional financing and is working with a team of advisers to help restructure its debt The company has been in talks for additional financing and is working with a team of advisers to help restructure its debt

Fashion retailer Forever 21 Inc is preparing for a potential bankruptcy filing, Bloomberg reported on Wednesday, citing people with knowledge of the plans.

The company has been in talks for additional financing and is working with a team of advisers to help restructure its debt, but negotiations with possible lenders have so far stalled, Bloomberg reported.

Forever 21 is looking to secure a potential debtor-in-possession loan to take the company into Chapter 11, even as some window remains to strike a last-minute deal, the report added.

Fashion Forever 21 has a branch in Montevideo, Uruguay.

Categories: Economy, International.

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