Forever 21 Floats Ch. 11 Plan With Small Unsecured Payout

Law360 (June 14, 2021, 7:02 PM EDT) -- Bankrupt fast-fashion retailer Forever 21 proposed a new update to its Chapter 11 plan that would provide a small recovery for unsecured creditors following the sale of the bulk of the debtor's assets.

In an amended plan and disclosure statement filed Friday in Delaware, Forever 21 said that since closing on its asset sale in February 2020 that ensured the brand would survive under new ownership, it has been working to efficiently wind down its business and maximize the value of its remaining assets.

"Since the closing of the sale, the debtors have been working on certain value-accretive workstreams to bring...

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