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Popular fashion retailer Forever 21 has filed for bankrupcy
 [IMAGES.DAWN] Fashion retailer Forever 21 Inc filed for bankruptcy on Sunday, as it joined a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce companies such as Amazon.com Inc.Since the start of 2017, more than 20 U.S. retailers, including Sears Holdings Corp and Toys ’R’ Us, have filed for bankruptcy as more customers shop online and eschew large malls. Forever 21 said the restructuring will allow it to focus on the profitable core part of its operations and shut some international locations. "We have requested approval to close up to 178 stores across the U.S. The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords," the company said in an email statement. Related: Sears: 2019-08-17 The Reincarnation of America's Most Infamous Dead Mall Sears: 2018-12-16 Sears gets approval to pay $25.3 million in bonuses to top execs after filing for bankruptcy Sears: 2018-11-30 More trouble for malls: A new wave of closures from Gap, Victoria's Secret and others Posted by: Fred 2019-10-01 |
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