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Forever 21 Files for 2019’s 35th Major US Bankruptcy

Coresight Research

Key Points

On September 29, 2019, Forever 21 announced it had begun voluntary Chapter 11 proceedings in the US bankruptcy court.

  • Forever 21 intends to use Chapter 11 protection to undertake a global restructuring to focus on a core of profitable parts of its operations.
  • As part of its restructuring strategy, the company plans to exit most international locations in Asia and Europe but will continue operations in the US, Mexico and Latin America.
  • To facilitate its restructuring, Forever 21 has obtained $350 million in financing.

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