Struggling mall retailer shares sad Chapter 11 bankruptcy news
The company just got news from its bankruptcy court that fans will not be happy with.
Once a company files Chapter 11 bankruptcy, it can sometimes pretend nothing has happened.
A lot of retailers operating under a Chapter 11 bankruptcy filing don't mention it in their stores or on the homepage of their website. They continue acting as if nothing has happened because that's what's best for business.
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In many cases, however, that's a bit like knowing you have a serious illness and not mentioning it to family and friends. Not talking about it does not make the situation go away, nor does it help you heal.
With a bankruptcy, however, the fate of a company hangs in the balance. It might be working on new funding or trying to sell the company to creditors who may continue to run it.
Forever 21 has been operating like that since it filed for Chapter 11 bankruptcy protection for the second time in March. The company has acted like it's business as usual, and its website only mentions the filing on an interior page.
