kobayashiGT Internal Moderator September 30, 2019 Share September 30, 2019 Forever 21 weighs bankruptcy filing Source: https://www.straitstimes.com/business/companies-markets/forever-21-weighs-bankruptcy-filing NEW YORK • Forever 21 is preparing for a potential bankruptcy filing as the fashion retailer's cash dwindles and turnaround options fade, according to people with knowledge of the plans. The company has been in talks for additional financing and is working with a team of advisers to help it restructure its debt, but negotiations with possible lenders have so far stalled, the people said. Focus has thus shifted towards securing a potential debtor-in-possession loan to take the company into Chapter 11, they said, even as some window remains to strike a last-minute deal that keeps it out of court. A bankruptcy filing would help the company shed unprofitable stores and recapitalise the business, said the people, who requested anonymity discussing private negotiations. Representatives for Forever 21 did not respond to a request for comment. Co-founder Chang Do-won had been focused on maintaining a controlling stake in the company, which limited its fund-raising options. A faction of Forever 21 officials, without the approval of Mr Chang, had asked its biggest landlords to consider taking a stake in the company amid a disagreement within its leadership, Bloomberg previously reported. Founded in 1984, Forever 21 operates more than 800 stores in the United States, Europe, Asia and Latin America. It was founded by South Korean husband-and-wife team, Mr Do and his wife Jin Sook, after they immigrated to the US. Outside the US, most of stores are franchised or operated in joint ventures with local partners. While there used to be as many as four outlets in Singapore, the brand has closed all but one store, which is at 313@Somerset. BLOOMBERG Quote Uniqlo conquer it all!!!! ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Jman888 Moderator September 30, 2019 Share September 30, 2019 never walk into that shop before, no loss 2 Link to post Share on other sites More sharing options...
kobayashiGT Internal Moderator September 30, 2019 Author Share September 30, 2019 Just now, Jman888 said: never walk into that shop before, no loss I will be worried if you frequent this shop. 🤣🤣🤣 1 6 Link to post Share on other sites More sharing options...
Vratenza Supersonic September 30, 2019 Share September 30, 2019 They did not respond fast enough to the sudden tsunami of online clothing/fashion platforms.... 2 Link to post Share on other sites More sharing options...
Tianmo Hypersonic September 30, 2019 Share September 30, 2019 Ppl grow up, but they forever 21, no need say also die lor. if they forever 32 they get business from demons like me, mayb can tahan a little while more. ... 3 Link to post Share on other sites More sharing options...
Volvobrick Supersonic September 30, 2019 Share September 30, 2019 https://www.forbes.com/sites/gracechung/2016/10/05/exclusive-interview-with-one-of-americas-most-successful-immigrants-forever-21s-do-won-chang/#603284b42ab0 The curse of media exposure..... So positive just 3 years back. 3 Link to post Share on other sites More sharing options...
BanCoe Hypersonic September 30, 2019 Share September 30, 2019 26 minutes ago, Tianmo said: Ppl grow up, but they forever 21, no need say also die lor. if they forever 32 they get business from demons like me, mayb can tahan a little while more. ... Forever Unker32 coming soon 🤣 5 2 Link to post Share on other sites More sharing options...
Maxus-MIFA9 Supersonic September 30, 2019 Share September 30, 2019 2 hours ago, Tianmo said: Ppl grow up, but they forever 21, no need say also die lor. if they forever 32 they get business from demons like me, mayb can tahan a little while more. ... You 32 meh .... x 2 lar ... 2 3 Link to post Share on other sites More sharing options...
Unfazed 6th Gear September 30, 2019 Share September 30, 2019 2 hours ago, BanCoe said: Forever Unker32 coming soon 🤣 Sure gone also lah...ppl nowadays dun wanna be reminded of gg into big 3, big 4 so on...gg into botox maybe still got hope lah 😉 My brand will be LongLiveYouth w/Botox 😁 1 Link to post Share on other sites More sharing options...
Jon_cclau 3rd Gear September 30, 2019 Share September 30, 2019 (edited) nowadays online shopping so convenient... cheaper also. Now is 21 century liao… all the younger generation will hide inside starbucks, flick their HP and do shopping together lor.. Older generation also paiseh to go inside "forever 21" … No more centerpoint kid liao. Retail business with such a high overhead, how to fight. Edited September 30, 2019 by Jon_cclau 2 Link to post Share on other sites More sharing options...
BanCoe Hypersonic September 30, 2019 Share September 30, 2019 1 hour ago, Picnic06-Biante15 said: You 32 meh .... x 2 lar ... Ya lor U is korrect 1......... He is Always64 🤣 5 2 Link to post Share on other sites More sharing options...
Kusje Supersonic September 30, 2019 Share September 30, 2019 28 minutes ago, Jon_cclau said: nowadays online shopping so convenient... cheaper also. Now is 21 century liao… all the younger generation will hide inside starbucks, flick their HP and do shopping together lor.. Older generation also paiseh to go inside "forever 21" … No more centerpoint kid liao. Retail business with such a high overhead, how to fight. I would have thought that clothing stores would be best suited to fight against online shopping. I've bought a few clothings online and choosing the correct size is always difficult. These days, I rather go physical store to buy. Link to post Share on other sites More sharing options...
Tianmo Hypersonic September 30, 2019 Share September 30, 2019 2 hours ago, Picnic06-Biante15 said: You 32 meh .... x 2 lar ... 37 minutes ago, BanCoe said: Ya lor U is korrect 1......... He is Always64 🤣 1 2 Link to post Share on other sites More sharing options...
Ct3833 Supersonic September 30, 2019 Share September 30, 2019 4 hours ago, Volvobrick said: https://www.forbes.com/sites/gracechung/2016/10/05/exclusive-interview-with-one-of-americas-most-successful-immigrants-forever-21s-do-won-chang/#603284b42ab0 The curse of media exposure..... So positive just 3 years back. he would still be a multi billionaire after folding up his business if that happens. 1 Link to post Share on other sites More sharing options...
Kb27 Supersonic September 30, 2019 Share September 30, 2019 Hmm...I'm really out of touch. Just heard the name Forever 21 for the first time ever ! Link to post Share on other sites More sharing options...
BanCoe Hypersonic September 30, 2019 Share September 30, 2019 2 hours ago, Kb27 said: Hmm...I'm really out of touch. Just heard the name Forever 21 for the first time ever ! So many Unkers here 🤣🤣 5 Link to post Share on other sites More sharing options...
RadX Moderator September 30, 2019 Share September 30, 2019 23 minutes ago, BanCoe said: So many Unkers here 🤣🤣 You not exactly spring chicken hor no... not you @spring 1 Link to post Share on other sites More sharing options...
Maxus-MIFA9 Supersonic September 30, 2019 Share September 30, 2019 4 hours ago, Tianmo said: Hmmmm........... you son from Russia GF very cute ... 🤡 Where is the one from Kenya, the curly hair & dark complexion one ....... oops .. ↡ Advertisement Link to post Share on other sites More sharing options...
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