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Forever 21 Hires Latham for Advice on Restructuring

  • Turnaround of fast-fashion chain may include store closings
  • It would be another blow to landlords with empty storefronts
A shopper carries Forever 21 Inc. bags at the Easton Town Center Mall in Columbus, Ohio.

A shopper carries Forever 21 Inc. bags at the Easton Town Center Mall in Columbus, Ohio.

Photographer: Luke Sharrett/Bloomberg

Fast-fashion clothing chain Forever 21 Inc. tapped longtime legal counsel Latham & Watkins for restructuring advice, according to people with knowledge of the matter.

The move adds to signs that Forever 21 is looking for ways to avoid becoming the next victim of the industry shakeup that has forced dozens of long-established chains into bankruptcy or out of business. The retailer operates hundreds of stores, and closing some is one option management might need to consider as part of a turnaround plan, said the people, who weren’t authorized to speak publicly.