Forever 21 Has Filed for Bankruptcy

'This does NOT mean that we are going out of business.'

Last night Forever 21 filed for Chapter 11 bankruptcy. In a letter addressed to customers, dated September 29, the brand said that the filing will enable Forever 21 to continue to operate"as usual" while the company"takes positive steps to reorganize the business so we can return to profitability and refocus on delivering incredible styles and fashion you love for many years to come.

As part of the filing, the brand has requested approval to close many stores throughout the U.S.:"The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords. We do, however, expect a significant number of these stores will remain open and operate as usual, and we do not expect to exit any major markets in the U.S."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Yahoo Lifestyle /  🏆 365. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Forever 21 Has Officially Filed For BankruptcySo long, $4 graphic crop tops?
Read more »

Forever 21 Has Filed for Bankruptcy'This does NOT mean that we are going out of business.'
Read more »

Forever 21 Has Filed for Bankruptcy—Here's Where to Shop InsteadR.I.P. Forever 21. The fashion retailer has officially filed for bankruptcy
Read more »

Forever 21 files for bankruptcyFashion retailer Forever 21 Inc said on Sunday it has filed for Chapter 11 bankr...
Read more »

Forever 21 files for bankruptcyForever 21, the teenage clothing emporium that rode America's mall boom and bust, said on Sunday that it filed for Chapter 11 bankruptcy.
Read more »