Hugh: Forever 21 Prepares to File for Bankruptcy – Tag the Friend Who Will be Devastated

So much for “forever!” Bloomberg reports that fashion chain Forever 21 is preparing to file for bankruptcy protection. The filing could leave the 35-year-old retailer’s 800-plus locations in limbo, as unprofitable stores would likely be shuttered as part of Chapter 11 negotiations. Last month, The Los Angeles Times reported that the fast-fashion brand was in trouble as its “coolness factor is indeed ebbing and young consumers keep migrating to other retailers.”

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