Home Business Forever 21 Files for Bankruptcy Again, Plans to Close All U.S. Stores

Forever 21 Files for Bankruptcy Again, Plans to Close All U.S. Stores

by Sonia Park
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Forever 21 Files for Bankruptcy Again, Plans to Close All U.S. Stores

Forever 21, once a dominant force in the fast-fashion industry, has filed for bankruptcy for the second time in six years and announced plans to close all its U.S. stores. The retailer's U.S. operating company filed for Chapter 11 bankruptcy protection on Sunday in a Delaware court, citing declining mall traffic and intense competition from online retailers such as Amazon, Temu, and Shein.

https://youtu.be/3M3boedWvFY

The company plans to conduct liquidation sales at its U.S. stores while seeking potential buyers for some or all of its assets. . .

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