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Forever 21 Files For Bankruptcy: CFO Cites Competition From 'Foreign Fast Fashion Companies' Like Shein, Temu

Benzinga LogoBenzinga16h ago

Forever 21 Files For Bankruptcy: CFO Cites Competition From 'Foreign Fast Fashion Companies' Like Shein, Temu - Benzinga

Quick Summary:

Forever 21’s U.S.operating company announced on Sunday that it has filed for Chapter 11 bankruptcy, marking the retailer's second bankruptcy in six years. 

The Details: F21 OpCo, LLC, which operates the fast-fashion retailer in the United States, said in a statement that Forever 21 is initiating an “orderly wind-down” of its business in the U.S., while its international businesses will continue to operate. 

Brad Sell, CFO of F21 OpCo, pointed to intense competition from international fast-fashion retailers like Shein and Temu, operated by PDD Holdings, Inc.(NASDAQ:PDD), as one of the main factors leading to the bankruptcy. 

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Forever 21 Files For Bankruptcy: CFO Cites Competition From 'Foreign Fast Fashion Companies' Like Shein, Temu - Benzinga (Picture 1)

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Article Details

Author / Journalist: Erica Kollmann

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-17 @ 17:01:14 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 365 words

Reading Time: 3 minutes read

Sentences: 12 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 27099551

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 23 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #53

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