Forever 21’s US operator filed for bankruptcy again after facing online competition and declining mall traffic. The fast-fashion retailer, operating about 350 US stores, attributed its struggles to higher costs and competition from Chinese companies exploiting duty-free shipping under the de minimis exemption.
Forever 21 Files for Bankruptcy Again Amid Rising E-Commerce Competition
Founded in 1984, the company thrived with affordable clothing but was hurt by e-commerce growth and mall decline. F21 OpCo plans liquidation sales while going through asset marketing, estimated at US$100-$500 million.
With liabilities between US$1-$10 billion, its US stores will stay open during the process. Forever 21 remains internationally operational under Catalyst Brands ownership.
Follow us on:
Read More News at #latestmalaysia #BusinessNews and #WorldFuture
