US EditionForever 21 files for bankruptcy, closes all U.S. stores amid financial struggles
- Forever 21's U.S. Operating company filed for Chapter 11 bankruptcy for the second time in six years, citing fierce competition from foreign fast fashion retailers and economic challenges affecting customers.
- The company plans to keep its U.S. Stores and website open while conducting liquidation sales, as it seeks a buyer for some or all assets.
- Forever 21's estimated assets are between $100 million to $500 million, while liabilities range from $1 billion to $10 billion, with creditors numbering between 10,001 and 25,000.
- The international stores of Forever 21 will remain unaffected by this bankruptcy filing, and its trademark and intellectual property are expected to continue under Authentic Brands Group.
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The internet is mourning Forever 21
Forever 21? More like Never 21, am I right, fellas?According to CNBC, the fast-fashion company filed for bankruptcy protection for the second time in six years and plans to close all its U.S. stores. People online are devastated. It's the end of an era, and Forever 21 — and the internet — are blaming other fast-fashion retailers like Shein and Temu. This Tweet is currently unavailable. It might be loading or has been removed. This Tweet is curr…
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Total News Sources356
Leaning Left49Leaning Right26Center144Last UpdatedBias Distribution66% Center
Bias Distribution
- 66% of the sources are Center
66% Center
L 22%
C 66%
12%
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