Forever 21 is rushing to arrange additional financing to pay vendors and landlords as cash drops to a dangerous level. The clothing retailer has hired a team of advisers to assist with restructuring its debt and reviving its business. The retailer is consulting with potential lenders for financing, including a FILO loan. A FILO loan, named after the “first in, last out” accounting method for inventory, is senior debt backed by a company’s inventory and other assets.
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