Struggling Forever 21 is reportedly eyeing significant turnaround plans.
Faced with diminishing mall traffic and falling sales due to competition from other affordable apparel retailers and trendy online fashion brands, the fast-fashion retailer is exploring a restructuring, Bloomberg reported last week.
Forever 21 is reportedly in discussions with private equity firm Apollo Global Management, “considering raising debtor-in-possession funds to provide financing should it plan to file for bankruptcy.”. . . more