Select Fashion: UK clothing chain on brink of collapse with 35 store closures set for this weekend
- Forever 21 is preparing for potential store closures and may file for bankruptcy soon, according to sources familiar with the situation.
- Forever 21 intends to close 200 underperforming locations nationwide due to decreased foot traffic and stiff competition, according to experts.
- Over the years, Forever 21 has reduced its store count from over 500 US locations to about 350.
- The company stated it is exploring strategic options and reducing costs, supported by shareholders like Authentic Brands and Simon Property Group.
26 Articles
26 Articles
Iconic Mall Retailer Set to Declare Bankruptcy, Liquidate All 350 Stores
The operator of Forever 21 is preparing for a potential bankruptcy filing, which could lead to widespread store closures. Efforts to find a buyer have so far fallen short, signaling trouble for the once-dominant fast-fashion retailer. Key Facts: Forever 21 may file for bankruptcy in the coming days, potentially shutting down its stores. Attempts to sell the retailer and avoid liquidation have been unsuccessful. The brand peaked with 800 stores …

Forever 21 weighs closing all stores ahead of bankruptcy
By Eliza Ronalds-Hannon and Reshmi Basu | Bloomberg The California-based operator of retailer Forever 21 is preparing to potentially close down its stores as part of a bankruptcy filing in the coming days, according to people with knowledge of the matter. Efforts to find a buyer for the fast-fashion retailer to avoid a liquidation have so far failed, said the people, who asked not to be identified discussing private information. Talks with one p…
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