“Forever 21, the teenage clothing emporium that rode America’s mall boom and bust, has filed for bankruptcy.
The chain said it is planning to overhaul its global business, closing between 300 and 350 stores, including as many as 178 in the United States.
“It also plans to exit “most of its international locations in Asia and Europe.” The company, which currently has 549 US stores and 251 in other countries, will continue to operate in Mexico and Latin America.
“In a letter to customers on Sunday night, the company said that decisions about which US stores would close were continuing, “pending the outcome of continued conversations with landlords.””
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