Forever 21 could be one step closer to excluding surgery in the United States after the operational company has filed a bankruptcy protection request.
Forever 21 was once a favorite of young women around the world, but he struggled to attract customers to his stores for growing prices and increasing popularity of the Internet purchase.
“We have not been able to find a sustainable path forward, given the competition of foreign firm fashion companies … as well as increasing costs, economic challenges that affect our basic customers,” said Brad Sell, the company’s Chief CEO.
The company has announced that it will carry out the sale of liquidations in its stores and that some or all its assets will be sold in a court -surpass proceedings.
Chapter 11 Protection delays the obligations of US companies according to its creditors, giving it time to reorganize its debts or sell parts of business.
His cheap, trendy clothing and accessories have become increasingly popular with young people in the next few decades, and the brand has become a competitor of giants of fast fashion such as Zara and H&M.
