Forever 21 files Chapter 11
Forever 21 Inc said Sept. 29 that it filed for chapter 11 bankruptcy protection in the U.S. Forever 21 said its Canadian subsidiary was granted protection under the Companies’ Creditors Arrangement Act by the Ontario Superior Court of Justice (Commercial List) in Toronto. Forever 21 has obtained $275 million in financing from JPMorgan Chase Bank NA, as well as $75 million in new capital from TPG Sixth Street Partners. Forever 21, of Los Angeles, is a women’s fashion retailer.
30 September 2019•3 mins read
