NEW YORK – The US operator of fast-fashion retailer Forever 21, a brand that once attracted droves of young women and girls to shop for cheap, trendy clothing, filed for Chapter 11 bankruptcy for the second time in six years.
The move likely means liquidation for the company, which was unable to find a buyer for its roughly 350 US stores. Its trademark and intellectual property – still held by an entity called Authentic Brands Group – may live on in a different form.
Forever 21 closed its last physical store in Singapore in June 2021.
Founded in Los Angeles in 1984 by South Korean immigrants, Forever 21 at its height was popular among young shoppers on the prowl for stylish but affordable clothing. By 2016 it was operating around 800…
