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Forever 21 is Considering Filing for Bankruptcy

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Forever 21 has been a persistent major fashion brand for years. Always being number one on the charts and producing trendy items, the fashion brand has been dominating the fashion industry. With more and more independent fashion brands emerging mostly from social media, its been getting competitive for Forever 21. Brands such as Fashion Nova and Prettylittlething have been rising to the top for the past 2 to 3 years and generating sales from Forever 21 costumers.

Forever 21 Inc. is preparing for a potential bankruptcy filing as the fashion retailer’s cash dwindles and turnaround options fade, according to people with knowledge of the plans.” says insider Bloomberg. A couple weeks ago, the brand Forever 21, who usually makes $3 billion a year was struggling to pay vendors and landlords. If the brand files for bankruptcy, it cloud possibly “shed unprofitable stores and recapitalize the business,” according to Bloomberg.

As of right now there hasn’t been any announcements from Forever 21 its self about closing its many stores. But by the looks of everything less and less people are being seen in the stores across the U.S.

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