- Interview with Sameer Kapoor, Member of SFNet’s Inclusiveness Committee
- Gordon Brothers Expands & Strengthens Executive Group with Key Promotions
- Otterbourg Appoints Six as Equity Members, Most in Firm’s History; Three Promoted to Counsel
- Cahill Announces Julie L. Cohen as Firm’s First Chief Marketing Officer
- Jennifer Wallace, Chair of SFNet’s 40 Under 40 Awards, Encourages Members to Nominate Rising Stars
Forever 21 Files for Bankruptcy
Struggling fashion retailer Forever 21 Inc said on Sunday it has filed for Chapter 11 bankruptcy protection to restructure its business.
The retailer’s bankruptcy marks another casualty among brick-and-mortar players, who have suffered from changing consumers trends of shopping online as opposed to visiting malls.
Forever 21 said it received $275 million in financing from its existing lenders with JPMorgan Chase Bank, N.A. as agent, and $75 million in new capital from TPG Sixth Street Partners, and certain of its affiliated funds.
