Filing Alert: Forever 21 Chapter 11
Forever 21 Operator Files Chapter 11 in District of Delaware
F21 OpCo, LLC and its debtor affiliates⁽¹⁾, the U.S. operator of fashion retailer Forever 21, filed for Chapter 11 protection on Mar. 16 in the U.S. Bankruptcy Court for the District of Delaware.
Forever 21 and certain affiliates filed for Chapter 11 in 2019, with F21 OpCo, LLC later acquiring substantially all of the 2019 Debtors’ assets through those proceedings.
The company reports $100 million to $500 million in assets and $1 billion to $10 billion in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-10469.
⁽¹⁾ F21 Puerto Rico, LLC and F21 GiftCo Management, LLC.
Top Unsecured Claims
Key Parties
Counsel:
- Andrew L. Magaziner
- Young Conaway Stargatt & Taylor, LLP
- Email: amagaziner@ycst.com
Special Corporate and Finance Counsel:
- Paul, Weiss, Rifkind, Wharton & Garrison LLP
Investment Banker:
- SSG Capital Advisors, LLC
Financial Advisor:
- Berkeley Research Group, LLC
Co-Chief Restructuring Officers:
- Stephen Coulombe
- Michael Brown
Store Closing Advisors:
- Hilco Merchant Resources, LLC
- Gordon Brothers Retail Partners, LLC
- SB360 Capital Partners, LLC
Claims Agent:
- Verita Global
Equity Security Holders:
- Sparc Group Holdings LLC – 100% Equity Interest
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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