(Not So) Forever 21
On September 29, 2019, Forever 21 filled for Chapter 11 bankruptcy.
The young-adult fashion emporium’s decision will primaily affect locations outside of the United States. The company plans to shut down nearly all of its facilities in Asia and Europe. It plans to close nearly 200 stores in the United States, and plans to continue normal operations in its 800 stores throughout Mexico and Latin America.
It is speculated the decision to file for bankruptcy was driven by the desire to get out of leases and close stores at a lower cost than normal, although these theories have not been confirmed by Forever 21.