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Forever 21 No More? Clothing Retailer Reportedly Plans a Bankruptcy

Forever 21 No More? Clothing Retailer Reportedly Plans a Bankruptcy

Forever 21 is looking to secure a potential debtor-in-possession loan to take the company into Chapter 11, even as some window remains to strike a last-minute deal.

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You may now no longer be 'Forever 21'.

The teen-clothing apparel retailer is preparing for a potential bankruptcy filing, as per several published reports.

Th American brand, which has near 800 stores across 57 countries, has been in talks for additional financing and is working with a team of advisers to help restructure its debt. However, negotiations with possible lenders have so far stalled, Bloomberg reported.

Forever 21 is looking to secure a potential debtor-in-possession loan to take the company into Chapter 11, even as some window remains to strike a last-minute deal, the report added.

While quite a few jaws dropped as the news surfaced, some made efforts to guess the reasons for its bankruptcy. Here's what Twitterati had to say.

(with inputs from Reuters)

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