Forever 21 Is Exploring Restructuring Options
- Company spoke to Apollo Global Management about DIP financing
- International operations said to be dragging on business
Pedestrians pass in front of a Forever 21 Inc. store.
Photographer: Cesar Rodriguez/BloombergThis article is for subscribers only.
Fast-fashion chain Forever 21 Inc. is in talks with potential lenders and restructuring advisers as it explores options for turning around its ailing business, according to people familiar with the matter.
The 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. It’s also spoken with Apollo Global Management about lining up potential debtor-in-possession financing if it were to seek bankruptcy, the people said.