US-origin Fashion brand, Forever 21’s operator F21OpCo filed for Chapter 11 bankruptcy on Sunday. This is the second time in six years the retailer has taken the decision amidst withering sales. As Forever 21 fails to remain profitable, the company said the liquidation sales at their stores will soon follow.
In the ever-increasing e-commerce market, brands with little to no online presence struggle to make the cut. Diminishing revenues and minimal footfall has led Forever 21 to this state the second time. Moreover, a court-supervised sale and marketing process for some or all of its assets is also in the foreseeable future.
Being unable to find a buyer for its 350 stores across the US, F21OpCo’s CFO, Brad Sell, expressed that…
