Seems that the deteriorating economy is taking down this popular fast-fashion brand with it.
Every millennial’s go-to clothing brand Forever 21 is reportedly filing for Bankruptcy.
According to reports, due to a decline in cash flow and failed business plans, the company is considering to file for bankruptcy.
Although rumor has it that their financial advisors are trying hard to figure out a plan for them.
However, the meetings with these advisors have been put on hold for now, due to some unknown reasons, according to reports.
Forever 21 is also considering applying for a debtor-in-possession loan.
It 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.
Obviously, Twitter reacted to this unexpected news.
Forever 21 is closing, please sign my petition to replace it with my new concept:
Bitches, We’re 35
— Jessica Ellis (@baddestmamajama) August 29, 2019
— 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
So Forever 21 not so forever anymore?