Forever 21 Files for Bankruptcy<br /> On Sept. 29, the American fashion<br />retailer filed for Chapter 11<br />bankruptcy protection in Delaware. In the official documents, Forever 21 reported<br />liabilities between $1 billion and $10 billion<br />owed to more than 100,000 creditors. They will reportedly close down 350 stores around<br />the world as a result, with a yet-to-be determined<br />number of stores closing in the United States. In a letter released to customers, Forever 21<br />said filing for bankruptcy was the “right path<br />for the long-term health of [their] business.” Forever 21, via statement They also reassured customers that stores<br />would continue to operate as normal<br />during the bankruptcy process. Forever 21, via statement
