Forever 21 may be filing for potential bankruptcy this comes close as the news that Charming Charlie was completely closing (stores and online) after filing for bankruptcy.
The company is currently struggling to pay off dept and is in negotiations with lenders. There may some last minute deal to prevent the brand from filing Chapter 11 but things look pretty bleak at the moment.
News of the potential of Forever 21’s bankruptcy is not only bad for the brand but also, for landlords of the malls the locations stores currently reside in. This could be a major loss for larger mall groups like Simon Property Group since Forever 21 stores take up such large commercial spaces in malls across America and landlords would have trouble filling those areas with the decline of people actually going to malls anymore.
Currently Forever 21 has over 800 stores in the US, Europe, and Asia.
I guess we’ll have to wait and see how this pans out for Forever 21!