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BUSINESS BEAT : Forever 21 may be near Ch. 11

Aug 29, 2019 - Los Angeles Times

Forever 21 Inc. is preparing for a potential bankruptcy filing as the fashion retailer's cash dwindles and turnaround options fade, according to people with knowledge of the plans.

The company has been in talks for additional financing and working with a team of advisors to help it restructure its debt, but negotiations with possible lenders have so far stalled, the people said. So focus has shifted toward securing a potential debtor-in-possession loan to take the company into Chapter 11, ...