"I have no idea where I'm going to get dresses displayed as size 14 that are actually size 4."
Forever 21 is preparing for a possible bankruptcy, it was reported on Thursday — But all Twitter heard was "closing down sale."
Fans of the clothing store seemingly had little sympathy for the retailer's 30,000 or so employees, focusing instead on getting discounts on the already-heavily discounted wares.
The news came via Bloomberg, who claimed the company is considering filing for Chapter 11 amid falling sales. The publication claimed the retailer had been in talks with lenders to restructure its debt, but negotiations had stalled.
The LA headquartered company operates 800 stores in the US and around the world; bankruptcy would allow it to dump its unprofitable locations.
And, as Twitter quickly realized, closing outlets means getting rid of excess stock.
Along with the many memes of people rushing to pick the carcasses, a large section of social media pointed out what they believed was the reason behind the company's potential fall, including its Flamin' Hot Cheetos and United States Postal Service collections.
According to Bloomberg, closing Forever 21 would cause huge problems for mall owners, who count it as one of their biggest remaining tenants amid a wave of bankruptcies in the retail sector.
Without anybody to fill the empty spaces, landlords may consider taking a stake in the retailer to avoid that; Bloomberg reported that while Co-founder Do Won Chang wants to maintain his controlling stake, disgruntled company officials have proposed such a deal to landlords without his approval.
See some of the reactions to the news below:
Me thinking about all the Forever 21 employees who will be losing their jobs. But also thinking about the bankruptcy sale. pic.twitter.com/fuLpxyyhE5— Llama Drama (@basicqueen69) August 29, 2019
Me waiting to take advantage of liquidation sales at forever 21 pic.twitter.com/QKkqAXAXJA— a l e x (@ayyy_ly) August 29, 2019
forever21 stores looking at their stock and wondering what they're gonna do with all of their unsold sequin "taco tuesdays" crop tops and glitter emoji booty shorts after filing for bankruptcy pic.twitter.com/UaPpo6V2Aa— 🛸 𝕶𝖔𝖗𝖊𝖆𝖓 𝕲𝖊𝖓𝖊𝖘𝖎𝖘 🛰 (@gravelygenesis) August 29, 2019
With Forever 21 going bankrupt, I have no idea where I'm going to get dresses displayed as size 14 that are actually size 4.— Charlotte Clymer🏳️🌈 (@cmclymer) August 29, 2019
forever 21 bankruptcy sale? this is gonna be y’all pic.twitter.com/SmNHzmVono— Ali (@aIisimmons) August 29, 2019
Soooo forever 21 is going bankrupt but rue 21 and rainbow is still open?!!!! pic.twitter.com/GZYX0tT4Jo— 💎💰 (@dreyonceeeee) August 29, 2019
Wait Forever 21 is going bankrupt around the time I’m about to turn 22.... what a coincidence. Can’t be forever 21 my whole life— yous mbb ♡ :): (@yous_bts) August 29, 2019
not being able to make enough money to independently exist is the most true to its name thing Forever 21 has ever done https://t.co/RXHWN2FnMh— maura quint (@behindyourback) August 29, 2019
Forever 21 preparing for bankruptcy shows you how fast the fashion industry is nowadays. You have to innovate and have new ideas every day if you want to still be on the market. The joy of competition.— Diego Barrueco (@DiegoBarrueco) August 29, 2019
Forever 21 is possibly declaring bankruptcy which honestly is a real 30 and over move.— Subhah (@Subhah) August 29, 2019
Tbh I get all my shit here. Not gonna spend $60 for a jean skirt from Hollister when Forever 21 has the same one for $20 🤷🏻♀️🤷🏻♀️🤷🏻♀️ https://t.co/F6ZeHxWUi3— 🍓Natasha Maxin🍓 (@Natasha_Maxin) August 29, 2019
forever 21 filling for bankruptcy is probably the best thing to happen right now because I need new clothes pic.twitter.com/0QUDjXrPPm— ً (@vantestaegi) August 29, 2019
Toys T Us, Sears, Forever 21, Kmart, Macy’s, JC Penny closing and going bankrupt because of Amazon and automation. Millions of people losing their jobs and more to come.— Yang 2020 - Forward (@MoneyMathWeed) August 29, 2019
It’s not immigrants, it’s robots. #Yang2020
the fact forever 21 filling for bankruptcy doesn’t affect me cause all their clothes for tiny ass girls pic.twitter.com/ZCN14tCLgS— 𝐣𝐮𝐥𝐢𝐚 (@yirensclit) August 29, 2019
i mean.... Forever 21 played themselves pic.twitter.com/2DW4pQadJc— vin (@pevineleven) August 29, 2019
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