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Cash-Strapped Forever 21 Seeks Suitor to Stave Off Liquidation

Rivet’s 2021 winter issue has dropped! This in-depth issue examines the steps the global denim industry is taking to minimize its impact on the environment, from implementing zero waste production and design processes to establishing greenhouse gas emissions goals aligned with the Paris Agreement.

Bankrupt fast-fashion chain Forever 21 Inc. will test the auction market once it secures a so-called “stalking horse bidder” in the hopes of landing a buyer and avoiding the retail graveyard. According to court records, the Los Angeles-based retailer, which filed for bankruptcy court protection on Sept. 29 after months of speculation, is in talks with a range…

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