Tuesday, June 4, 2019

Forever 21, struggling with global expansion, explores a debt restructuring

Los Angeles Times
Fast-fashion chain Forever 21 Inc. is in talks with potential lenders and restructuring advisors as it explores options for turning around its ailing business, according to people familiar with the matter.

The Los Angeles company is exploring financing that would shore up its liquidity and ensure founder Do Won Chang maintains control, said the people, who asked not to be identified because they’re not authorized to speak publicly. The chain has also spoken with Apollo Global Management about lining up potential debtor-in-possession financing if it were to seek bankruptcy protection, the people said.. . . more