Forever 21 Said to Hire Latham for Advice on Restructuring

Fast-fashion clothing chain Forever 21 Inc. tapped longtime legal counsel Latham & Watkins for restructuring advice, according to people with knowledge of the matter.

The move adds to signs that Forever 21 is looking for ways to avoid becoming the next victim of the industry shakeup that has forced dozens of long-established chains into bankruptcy or out of business. The retailer operates hundreds of stores, and closing some is one option management might need to consider as part of a turnaround plan, said the people, who weren’t authorized to speak publicly.

International operations also have been a drag on the ...