Forever 21 is preparing for a potential bankruptcy filing as the retailer’s cash dwindles and turn-around options diminish. The company was discussing additional financing and was working with a team of advisers to aid in restructuring debt, but negotiations with lenders have stalled. Focus has shifted to securing a potential debtor-in-possession loan to take the company out of chapter 11.
If you are thinking about filing for bankruptcy and would like to speak to an attorney, call our law office at 816-524-4949 or visit our website at Hoorfarlaw.com.