Forever 21's Canadian subsidiary granted CCAA protection
Los Angeles-based fashion retailer Forever 21 Inc said it has filed for Chapter 11 bankruptcy protection in the United States and that its Canadian subsidiary was granted protection under the Companies’ Creditors Arrangement Act (CCAA) by the Ontario Superior Court of Justice (Commercial List) in Toronto. Forever 21 has also obtained US$275 million in financing from JPMorgan Chase Bank, as well as US$75 million in new capital from TPG Sixth Street Partners, to facilitate the company's restructuring.
30 September 2019•3 mins read
