Forever 21 is reportedly exploring a restructuring deal
- Forever 21 is exploring a restructuring deal to turn around its business, Bloomberg reported, citing people familiar with the matter.
- Forever 21 is a private company and does not release financials. However, in recent years the teen-focused chain has shown signs of struggle, especially in its international locations, where it has closed several stores.
- A spokesperson for Forever 21 did not immediately respond to Business Insider's request for comment.
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Fast-fashion retailer Forever 21 is reportedly exploring a restructuring deal to turn around its business.
The Los Angeles-based chain is in talks with private-equity firm Apollo Global Management about raising debtor-in-possession funds to provide financing if it were to file for bankruptcy, Bloomberg reported, citing people familiar with the matter. No deal has been finalized yet, however.
A spokesperson for Forever 21 did not immediately respond to Business Insider's request for comment. Apollo Global Management declined to comment.
Forever 21 is a private company and does not release financials. However, in recent years the teen-focused chain has shown signs of struggle, especially in its international locations, where it has closed some stores.
The company has come under increased pressure as new online players such as Fashion Nova, Lulus, and Boohoo have entered the market and offered trendy clothing at low prices.
Forever 21 isn't the only retailer to be impacted by this, however. Other teen-centric brands including Charlotte Russe, Aeropostale, and Rue21 have all recently filed for bankruptcy.