Forever 21 has been eaten alive by the new monsters in retail today, digital shopping and ginormous discount stores finally offering hot fashion at their always good prices.One of the formerly go-to destinations for disposable fashion is preparing a potential bankruptcy filing, according to a new Bloomberg report. With cash flow declining and turnaround plans not working, Forever 21 had reportedly sought additional financing and a debt restructuring.
And to add insult to injury, national apparel chains have focused on closing unproductive stores and downsizing others to drive healthier profits. First, there remains too many retail stores in America amid the shift to online shopping. Unproductive retail chains must — and will — be weeded out as people reduce trips to physical shops.
Source: News Formal (newsformal.com)
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