Forever 21 files for bankruptcy; plans to exit in Asia, Europe

Forever 21, US fast-fashion giant, has filed for Chapter 11 bankruptcy protection and announced that it will make its exit from most international locations in Asia and Europe.

Forever 21 had over 800 stores in 57 countries across the globe. The chain announced that it would now file a motion to close up to 178 of its stores. However, the decision as to which domestic store will be closed is still pending.

The move comes as traditional retailers continue to struggle against the rise in competition posed by online retailers. The US fashion retailer stated that it has obtained $275m in financing from the existing lenders and $75m in new capital to assist with the global restructuring.

Forever 21 files for bankruptcy; plans to exit in Asia, Europe

Forever 21 files for bankruptcy. It will close US stores and mostly quit Europe and Asia

Forever 21 files for bankruptcy, will close 350 stores worldwide

Forever 21 Bankruptcy: Forever 21 files for Bankruptcy, plans to close stores in Asia & Europe

Forever21 to close up to 350 stores worldwide as it files for bankruptcy protection in the US

Forever 21: Hundreds of stores at risk as retailer files for bankruptcy protection

Fast fashion retailer Forever 21 files for bankruptcy, to exit most of Asia and Europe

बंद हो रहा है 35 साल पुराना ये फैशन ब्रांड, जानें क्या है मामला?

Forever 21: दिग्गज फैशन कंपनी ने किया दिवालिया होने का ऐलान, बंद होंगे 178 स्टोर






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