Keeping up with today’s economy is getting harder day by day and now, every millennial’s favourite clothing brand, ‘Forever 21’, is reportedly filing for bankruptcy.
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According to reports, the clothing company is considering to file for bankruptcy due to a decline in cash flow and failed turnaround plans. Rumour has it that the brand is in talks about receiving funding and financial advisors are trying to work out a plan for them.
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However, reports have also added that meetings with these advisors have been put on hold for now. Forever 21 is also looking out to apply for a debtor-in-possession loan. It basiclly means that the company will be forced to file for bankruptcy but will still manage to run their business while figuring out their financial woes.
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Of course, Twitter had to react to this news.
Forever 21 is closing, please sign my petition to replace it with my new concept:
— Jessica Ellis (@baddestmamajama) August 29, 2019
Bitches, We’re 35
The beginning of the end #forever21 pic.twitter.com/VIsz0K4UOS
— Jenna Vesper (@JennaWithaSmile) August 30, 2019
forever 21 is one of the main places i shop at if they close i’ll dead ass cry lmao
— al (@ahhhhlex_) August 29, 2019
Forever 21 not so forever?