Wednesday January 29, 2020

Forever 21 files for bankruptcy as fast goes out of fashion

Just as sustainability concerns upended the food and beauty industries years ago, they are starting to factor more into clothing purchases

1st October, 2019
Forever 21 to focus on North America. Pic: Getty

Forever 21 has learned the hard way that the allegiance of teen shoppers is anything but everlasting. The fashion retailer filed for bankruptcy late on Sunday, saying it had obtained $350 million in financing to help it stay afloat.

The company, which shut its Dublin outlet last year, said it planned to close most of its Asian and European stores in order to focus on its core business in North America.

The bankruptcy is, of course, another...

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