Cash Strapped Forever 21 Considers Bankruptcy

August 29, 2019
UNE 24: A general view during the Forever 21 Times Square opening celebration at Forever 21 Times Square Flagship Store on June 24, 2010 in New York City. (Photo by Dimitrios Kambouris/Getty Images for Forever 21)

UNE 24: A general view during the Forever 21 Times Square opening celebration at Forever 21 Times Square Flagship Store on June 24, 2010 in New York City. (Photo by Dimitrios Kambouris/Getty Images for Forever 21)

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Forever 21, purveyor of kitschy fast-fashion is strapped for cash and considering bankruptcy, Bloomberg reports. 

Like so many other mall staples - Claire’s, Toys R Us, Payless - Forever 21 has struggled to adapt to the digital marketplace where speedy shipping, convenience, and a wide variety of items win the day (or the dollar.)

In addition to the dent made by online shoppers, fast-fashion, with its bad environmental rap and questionable labor practices has become increasingly unpopular to a politically and environmentally minded generation of young shoppers. 

Some Forever 21 shoppers point to design choices that feel like giant fashion belly flops, specifically collaborations with the U.S. Post office and Taco Bell. The never-ending food references - pickles, Cheetos, pizza- nested in yards of tulle and sequins… Let’s face it, it can be a lot to swallow.

The clothing chain has declined to comment on the news, Bloomberg reports.