Company enters bankruptcy with $1.58 bln in debt US stores, website to remain open Plans liquidation sales at roughly 350 US stores Forever 21 had earlier filed for bankruptcy in 201 Forever 21‘s U.S. operating company on Sunday filed for bankruptcy for the second time in six years and said it would wind down its domestic operations, hurt by mounting […] The post Forever 21 files for bankruptcy again, to start liquidation sales appeared first on Interaksyon.
Forever 21 files for bankruptcy for the second time in six years and will start liquidation sales at roughly 350 U.S. stores due to mounting online competition and weak mall traffic. The company entered bankruptcy with $1.58 billion in debt after losing over $400 million in the last three years. While U.S. stores close, international stores remain unaffected. The company was previously bailed out of bankruptcy in 2019 by Sparc Group, but losses continued.
