Forever 21 isreportedly planning for a potential bankruptcy filing

Clothing store Forever 21 weighs bankruptcy filing

Forever 21 is reportedly mulling a bankruptcy filing.

The apparel retailer geared toward teens and young adults has been exploring restructuring options, but as those run out, the company is considering filing for bankruptcy, people familiar with the situation told Bloomberg.

»RELATED: Cheaper gas expected for Labor Day travel

Focus has shifted to securing a potential debtor-in-possession loan to take the company to Chapter 11 reorganization, Bloomberg reported.

Most Forever 21 stores are located in Malls, including at The Greene Towne Center, Dayton Mall, Liberty Center, Jeffersonville Tanger Outlets and the Kenwood Towne Centre.

A bankruptcy filing would help the company shed unprofitable stores and recapitalize the business, the people said.

FIVE FAST READS

The steps Connor Betts took to commit Ohio’s largest mass shooting

Kettering book store to go out of business

Local Victoria’s Secret, Bath & Body call center hiring 2K seasonal workers

PHOTOS: More than 2K UD freshmen move in

Three more local stores set to close after national retailer liquidates

Thank you for reading the Dayton Daily News and for supporting local journalism. Subscribers: log in for access to your daily ePaper and premium newsletters.

Thank you for supporting in-depth local journalism with your subscription to the Dayton Daily News. Get more news when you want it with email newsletters just for subscribers. Sign up here.

X