Bankrupt drugmaker Purdue Pharma filed a new bankruptcy plan on Tuesday, a major step toward finalizing a proposed opioid settlement of at least $7.4 billion after a setback in the U.S. Supreme Court last year.

Apparel retailer Forever 21 said Monday it commenced voluntary bankruptcy proceedings in the United States, beginning plans for an "orderly wind down" of US stores, while pursuing in parallel a possible sale.