Forever 21 bankruptcy – Forever 21 files for bankruptcy for second time in six years

For the second time in six years, For the second time, for the second time, it has been clashed to reducing trade traffic and increased competition from online platforms. The company has announced that it will provide liquidation for sale in its US stores for its assets to be controlled by the court.

Despite the lawsuit, forever, 21 confirmed that its US stores, as well as its website, will remain operational, international actions that have remained deplorable. The retailer’s assets are estimated at $ 100 million to $ 500 million, and liabilities range from $ 1 billion to $ 5 billion, involved more than 10,001 creditor.

Earlier, the reports said that forever 21 was thinking of at least 200 additional places as part of bankruptcy proceedings, which was planned to start in March.

According to a Bloomberg report, which cited people if a quality buyer was not found for the rest of the stores, the company was discussing the whole chain of its entire 350 stores.

The decision to close these stores has affected the years of their financial losses, leading to payments for rent and rent fees. The company also provided for a liquidation for sale in its stores, at the same time, “implementing a Court-controlled sales and marketing process”.

In case of successful sales, forever, 21 says that it may occur from the full wind of action to facilitate the transaction.