LOS ANGELES, Calif. — Forever 21, which has a store at Bellis Fair Mall and around the world, is the latest retailer to file for bankruptcy.
The company that helped popularize “fast fashion” with low-priced clothing announced its plans Sunday.
The New York Times reports Forever 21 will cease operations in 40 countries, like Canada and Japan, and close up to 350 stores worldwide, including about 170 in the US.
Retail experts say this continues the downward trend for malls that have recently lost various anchor stores like Macy’s and Sears.
Forever 21 has not named which stores it plans to close.