Forever 21 Plans to Shutter at Least 100 Stores in Bankruptcy
- Retailer is lining up $75 million to finance restructuring
- Landlords have considered easing rent for interest in company
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Forever 21 Inc. is preparing to close at least 100 stores as part of a restructuring that calls for the trendy retailer to file for bankruptcy as early as this month, according to people with knowledge of the preparations.
The apparel merchant is working on obtaining a financial package that would provide about $75 million for its restructuring in the court process, said the people, who asked not to be named discussing private negotiations.