Forever21 news and archive

Forever21 files for bankruptcy, “takes positivesteps to return to profitability”

New York – Forever 21, Inc. announced Sunday it has voluntarily filed for bankruptcy protection under Chapter 11. The fast fashion company broke the news to its customers first, via a letter on their website where they reassure them “this doesn’t mean that we are going out of business.” “This was an important and necessary step to secure the...

Business

Forever21 scales back in India

Aditya Birla Fashion and Retail Ltd (ABFRL), the company managing Forever21 in India, has started downsizing the American brand presence in the country following a decline in sales. The Indian licensee of the American fast fashion brand is downsizing the brand’s stores and cutting costs as sales from the fast fashion business decline, a top...

Business

Forever 21 warns customers: their personal data might have been compromised

Forever 21 announced on Tuesday that customers who shopped in certain stores this year may have had their credit-card information stolen. This data breach might have specifically affected customers who shopped in the chain’s stores from March 2017 through October 2017. However, the number of people potentially affected was not yet available....