Forever 21 Files for Bankruptcy AgainForever 21, the well-known fashion retailer, has gone bankrupt for the second time in six years. The company struggled to compete with fast-growing online brands like Shein and Temu.
As a result, Forever 21 will close its stores and sell off its remaining products. The company is also trying to find a buyer for its assets, but no one has shown interest so far.
Several problems led to this downfall. Rising costs made it harder to run the business, trade uncertainty created financial instability, and fewer people visited shopping malls, reducing sales.
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