Additionally, Forever 21 will end operations in 40 countries, including Canada and Japan.
to help keep operations afloat ahead of the quickly approaching holiday shopping season. News that the retailer is officially filing for bankruptcy confirms that the search did not go well.
“The company has been in talks for additional financing and working with a team of advisers to help it restructure its debt, but negotiations with possible lenders have so far stalled,” explained at the time. “Focus has thus shifted toward securing a potential debtor-in-possession loan to take the company into Chapter 11, even as some window remains to strike a last-minute deal that keeps it out of court.”to shutter stores that aren’t making money, the move is likely to affect some of the biggest mall management companies, including Simon Property Group Inc. and Brookfield Property Partners LP.
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