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Economy |
Popular fashion retailer Forever 21 has filed for bankrupcy |
2019-10-01 |
[IMAGES.DAWN] Fashion retailer Forever 21 Inc filed for bankruptcy on Sunday, as it joined a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce companies such as Amazon.com Inc. Since the start of 2017, more than 20 U.S. retailers, including Sears Holdings Corp and Toys ’R’ Us, have filed for bankruptcy as more customers shop online and eschew large malls. Forever 21 said the restructuring will allow it to focus on the profitable core part of its operations and shut some international locations. "We have requested approval to close up to 178 stores across the U.S. The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords," the company said in an email statement. |
Posted by:Fred |
#2 Wonder how CRE rents are still holding up so high to be honest. |
Posted by: Bright Pebbles 2019-10-01 11:31 |
#1 Wonder how Bezo is going to do when the Civil War hits stride and electricity is sort of intermittent (like some places in Northern California) and interstate commerce slows way down. Wonder if he thought that far ahead leaving WAPO to fan the flames of destruction. |
Posted by: Procopius2k 2019-10-01 06:23 |