Source: CNBC
“Forever 21 filed for bankruptcy protection for the second time in six years on Sunday and blamed fast-fashion e-tailers Shein and Temu for its demise. The retailer’s operating company is expected to cease all operations in the U.S. and has already begun liquidation sales at its more than 350 locations, but it’s still open for bids if a buyer is willing to take on its inventory and keep running its stores, court filings show. … The company’s bankruptcy comes six years after it emerged from its first filing only to face the Covid-19 pandemic, the highest inflation in decades and new competition from Chinese-founded upstarts like Shein and Temu.” (03/17/25)
https://www.cnbc.com/2025/03/17/forever-21-files-for-second-bankruptcy-blames-shein-and-temu.html