Forever 21 considers restructuring options

Forever 21 is exploring options to restructure, according to Bloomberg. The fast fashion retailer has been struggling with declining sales due to competition with digitally native e-commerce retailers and a reduction in mall traffic.

While Forever 21 does not release financial reports, the fast fashion chain has displayed signs of struggles in recent years, having closed several international locations. The brand currently operates over 815 stores globally.

The company is reportedly in talks with private equity firm Apollo Global Management, considering raising debtor-in-possession funds to provide financing should it plan to file for bankruptcy.

CNBC reported that a company spokesperson said that Forever 21 is “speaking with our lenders in the normal course of business and are in compliance with all of our agreements and continue to operate as usual.”