US multinational fashion retailer will shut down all its operations back home as the company recently filed for bankruptcy protection for the second time in six years, with liquidation sales of its stores in over 350 locations across the US currently ongoing.
However, the company is still open for bids if there is a buyer willing to take on its inventory and keep running the stores, according to a news report by CNBC. The report points out Forever 21 – once a leader in youth fashion retail – blaming its demise in the US on fast-fashion e-commerce platforms Shein and Temu.
Forever 21 was founded in Los Angeles in 1984, originally as Fashion 21, by South Korean immigrant couple Do Won Chang and Jin Sook Chang.
Image: Wikipedia/Raysonho
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