(Photo by Drew Angerer/Getty Images)
Last month we reported that Forever 21 had filed for Chapter 11 bankruptcy.
Due to the bankruptcy, the company is slated to close 200 stores, forcing the fashion chain to have a smaller footprint.
Jim Van Horn, a bankruptcy lawyer at Barnes & Thornburg LLP said, “That is not typically the norm for retail Chapter 11 bankruptcies. For those reasons, I do believe that there is a very good chance that Forever 21 will emerge from bankruptcy.”
Forever 21 has plans to leave most of its international markets including Europe, Asia, and Canada.
There is no word on when the stores will officially close.