Source: George Rose / Getty Ladies and gentlemen, it’s officially the end of an era! While many fashionistas loved browsing the racks at Forever 21 , we’re afraid that the retail giant may have to take a loss and file for bankruptcy. What does this mean for fans of the brand you may ask? Many locations may have to close their doors! According to Bloomberg , the company has been working tirelessly to avoid bankruptcy. “The company has been in talks for additional financing and working with a team of advisers to help it restructure its debt, but negotiations with possible lenders have so far stalled,” Bloomberg reports. “Focus has thus shifted toward securing a potential debtor-in-possession loan to take the company into Chapter 11, they said, even as some window remains to strike a last-minute deal that keeps it out of court.” Naturally, a bankruptcy filing would give the retailer a little bit of room to close down underperforming stores and help rebuild the business. However, this move may affect some of the biggest mall management companies. Bloomberg reports that if Forever 21 closes a significant number of stores, landlords such as Simon Property Group and Brookfield Property Partners (two of the largest mall owners in the country) may have trouble filling the vacancies. Most people blame fast fashion brands such as Fashion Nova and Pretty Little Thing for the decline of many stores. Some people also blame the fact that the brand has stolen images of hip hop stars and have even been accused of sending of diet bars with plus size orders as the culprit for its demise. While this all may be true, we can’t deny that consumer shopping habits change like the wind. In order for retail locations to stay ahead of the game, they must provide shoppers with what they need. While there is no word on the retailer closing any of its 800+ locations in Asia, Europe, Latin America and the U.S. at the moment, it hasn’t stopped shoppers from anticipating the inevitable. This move is definitely troubling for business, but Forever 21 shoppers are green with delight! The possibility of stores closing means one thing- closeout sales! In the meantime, Black Twitter has been on one since the news broke. Here are some of the funniest and real reactions: 1. Been walking around in forever 21 leggings with my ass showing through. No wonder why they’re going bankrupt. I’m out here giving out a free show WTF — J (@jaylaacortez) August 31, 2019 2. i said i was saving money this week but bitch this forever 21 bankruptcy sale??? — (@natsvibes) September 2, 2019 3. I just heard the best news Forever 21 may file for bankruptcy? Hello??? All of you that have refused to shop at Forever 21 to help out environment and our workers please give yourself a huge round of applause!!!! We did it folks. If this is bad news for you, I’m not sorry pic.twitter.com/BL3gLNYdj3 — Julie Ramirez (@atornkneejulie) August 30, 2019 4. FOREVER 21 IS DECLARING BANKRUPTCY AND CLOSING ALL STOR- pic.twitter.com/XW6OF1OhWi — Professional Binch (@FatTiddyJones) August 30, 2019 5. This is why forever 21 is going out of business. They sell bs like this pic.twitter.com/IsA0dF62Y5 — Freddie Mercurina (@mzhotniz86) September 1, 2019 6. @Forever21 when’s the bankruptcy sale? I got moves I’m tryna make — Reem (@smoothieflavors) September 2, 2019 7. Why does Forever 21 keep sending me all these emails knowing they about to file for bankruptcy — Tamaria Meshele (@tamariatweets) September 1, 2019 8. I can confirm that Forever 21 has the mean bankruptcy sale going on. I got a romper, some pants and two pairs of earring for $30. — Echo (@EchoDoesRadio) September 1, 2019 9. Forever 21 is about to file for bankruptcy, it’s what they deserve for having us thinking we were walking into a room filled with a drunk unicorns vomit and clothes that only fit the mannequins #forever21isoverparty — aleck CURLiE (@itsaleckxander) September 1, 2019 10. I’m lowkey mad at Forever 21 for them filing for bankruptcy. Where the hell am I supposed to get clothes now?! — isty L. ’Neal, Esq. (@themistyohno) September 1, 2019 BEAUTIES: What do you think? DON’T MISS: Forever 21 Under Fire For Reportedly Using U.S. Sweatshops To Manufacture Clothing #BlackLivesMatter Takes Over Forever 21, Bruce Jenner’s Nail Movement & More Fashion News You Won’t Believe Forever 21’s N.W.A Apparel + 5 Other Fashion Faux Pas [ione_media_gallery src=”https://hellobeautiful.com” id=”3056201″ overlay=”true”]
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Black Twitter Has Thoughts About Forever 21 Potentially Filing For Bankruptcy
