July 22, 2021
The bankruptcy case of fast-fashion retailer Forever 21 will convert to a Chapter 7 liquidation after a Delaware bankruptcy judge said Thursday its proposed Chapter 11 plan did not garner sufficient support from affected administrative creditors.
July 13, 2021
The U.S. Trustee urged a Delaware bankruptcy judge Tuesday to reject Forever 21's proposal to solicit creditor votes on its Chapter 11 plan, arguing that the solicitation notice is confusing, contains inaccuracies and doesn't jibe with the Bankruptcy Code.
June 14, 2021
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.
November 06, 2020
Bankrupt retailer Forever 21 estimated Thursday that administrative claim creditors could see as much as a 90% higher recovery from a planned Chapter 11 wind-down than the Chapter 7 liquidation it avoided after a Delaware bankruptcy judge reconsidered conversion of the case.
October 13, 2020
Forever 21 told a Delaware bankruptcy judge Monday she mistakenly prejudged the confirmability of the retailer's yet-to-be-presented Chapter 11 plan, citing President John F. Kennedy's famous "We choose to go to the moon" speech to argue that they shouldn't give up, just because getting a plan confirmed will be hard.
October 07, 2020
The U.S. trustee told a Delaware judge Wednesday that retailer Forever 21 is unreasonably attempting a "second bite at the apple" by asking her to revisit a prior ruling to convert the company's bankruptcy to a Chapter 7 liquidation.
September 28, 2020
Bankrupt fast-fashion retailer Forever 21 has asked a Delaware judge to revisit a ruling from this month that allowed for the conversion of the company's bankruptcy case to a Chapter 7 liquidation, saying the court misapplied the law in assessing whether conversion was justified.
September 08, 2020
Retailer Forever 21 Inc. on Sunday asked a Delaware bankruptcy judge to reject the U.S. Trustee's call to convert its Chapter 11 to a Chapter 7 liquidation, saying it remains "laser focused" on bringing additional value to the bankruptcy estate.
May 11, 2020
The U.S. Trustee's Office told a Delaware bankruptcy judge that Forever 21's Chapter 11 case likely should be dismissed or converted to a Chapter 7 liquidation, saying that given the limited amount of wind-down funds, a plan to make distributions to creditors is probably not feasible.
April 14, 2020
Several Forever 21 store landlords are urging the Delaware bankruptcy court to reject a proposal by the company's Chapter 11 buyer to alter procedures for going out of business in response to the coronavirus pandemic, arguing new measures such as suspending rent and preventing repossessions would be unfair to them.