Forever 21 reportedly considering filing for bankruptcy

Forever 21 is considering filing for bankruptcy as efforts to restructure its debt run dry, according to CNBC.

CNBC reports the retailer has been exploring restructuring options to shore up its liquidity as it struggles with its business. Those efforts, have stalled making bankruptcy more likely.

Many of the most troubled retailers like Forever 21 are located in malls where fewer shoppers are spending their money. As sales decline, the companies are still weighed down by large, expensive store bases even as retailers need to invest in technology to fend off competition from new brands born online.

Forever 21, Simon and Brookfield did not respond to CNBC’s request for comment.