Once a beloved fashion brand Forever 21 has filed for bankruptcy.
The fashion retailer which once had 500 stores in the US and 800 stores worldwide will be closing 200 stores and laying off more than 350 employees.
The fashion brand which began mostly catering to younger ages but since expanded to apparel and accessories for men and children,has struggled to keep up in the fashion scene.
As trendy brands such as Fashion nova and Shein have taken over the scene.
It first started in 1984 as a brick -and -mortar store by husband -and -wife team Do Won Chang and Jin Sook Chang until its bankruptcy in 2019 when it’s intellectual property was sold to brand management firm Authentic Brands.
Their set to be in the process of looking for a buyer.Among the employees getting laid off which is set to take effect on April 21 are stylists, designers,supply chain directors among others .
Forever 21 is known as one of the pioneer fashion brands and a staple in the retail scene for years.
They will Forever be missed.
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