At least 200 more Forever 21 locations across the U.S. are expected to close, according to a report.
It’s all part of the bankruptcy process filed earlier this week, according to a report by Bloomberg.
The retailer currently operates nearly 350 stores and is still looking for a buyer for its remaining stores. According to the report, Forever 21 would be forced to liquidate the remaining stores if a buyer is not found.
Under a partnership agreement made in August 2023, Chinese-founded Shein acquired about one-third interest in Sparc Group, Forever 21′s operator. Sparc also became a minority shareholder in Shein.
At the time, Forever 21 had more than 540 locations worldwide.
At least 200 more Forever 21 locations across the U.S. are expected to close, according to a report.
At least 200 more Forever 21 locations across the U.S. are expected to close, according to a report.
It’s all part of the bankruptcy process filed earlier this week, according to a report by Bloomberg.
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The retailer currently operates nearly 350 stores and is still looking for a buyer for its remaining stores. According to the report, Forever 21 would be forced to liquidate the remaining stores if a buyer is not found.
Under a partnership agreement made in August 2023, Chinese-founded Shein acquired about one-third interest in Sparc Group, Forever 21′s operator. Sparc also became a minority shareholder in Shein.
At the time, Forever 21 had more than 540 locations worldwide.