Fashion retailer Forever 21 files for bankruptcy as it joined a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce
The company lists both assets and liabilities in the range of $1 billion to $10 billion, according to the court filing in the U.S. Bankruptcy Court for the District of Delaware.
With these funds, Forever 21 said it intends to operate business as usual and will focus on profitable core part of its operations. Founded in 1984, the retailer has 815 stores in 57 countries. Last week, it said it would exit Japan and close all 14 stores at the end of October.
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