Forever 21 Planning to Close Nearly 178 Stores
September 30 , 2019
On Sunday, the iconic teenage clothing brand, Forever 21 filed for "Chapter 11 bankruptcy". The spokesperson of the chain clarified that the brand is planning to close 178 of its stores across the globe, out of its more than 800 stores. However, they have further informed that a notable number of its stores, such as in the major markets of the United States, will remain open and function as usual. The first Forever 21 store was opened in Los Angeles by Do Won Chang and his wife Jin Sook. And the chain was quick to expand and gain recognition all over the world. Nonetheless, the executive vice president of the company said that the decision to close some stores is a necessary step for saving the future of the company.