It looks like a Forever 21 bankruptcy may be on the way, if the rumors are true.
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Here’s what we know so far about the possible Forever 21 bankruptcy.
- Insider sources claim that a bankruptcy filing is likely on the way.
- This would have the company potentially restructuring its business.
- That means it would probably be closing down a hefty amount of stores as it looks to reduce costs.
- There are currently more than 800 Forever 21 stores across the world.
- While the Forever 21 bankruptcy is possible, there’s still a chance that the apparel retailer can avoid such an outcome.
- It has been looking for additional financing for some time now in order to avoid filing for bankruptcy protection.
- While things are looking grim for the company, there’s still a chance someone could come in at the last minute to provide it with this funding.
- This would bring an end to the company’s 35-year history of serving customers.
- It’s also possible that a Forever 21 bankruptcy would spell bad news for mall owners.
- The retail chain is one of the largest renters of mall spaces in the U.S.
- Without it around, mall owners would lose out on a large amount of rent payments.
- It would also be hard for these malls to find other retailers to fill the void as the shopping centers deal with declining foot traffic.
You can follow this link to learn more about the possible Forever 21 bankruptcy filing.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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