Forever 21 Reportedly Preparing to File for Chapter 11 Bankruptcy

August 29, 2019

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Bloomberg reports that fashion chain Forever 21 is preparing to file for bankruptcy protection. The filing could leave the 35-year-old retailer's 800-plus locations in limbo, as unprofitable stores would likely be shuttered as part of Chapter 11 negotiations. Last month, The Los Angeles Times reported that the fast-fashion brand was in trouble as its "coolness factor is indeed ebbing and young consumers keep migrating to other retailers."