The retail chain is winding down US operations after years of struggles, having earlier filed for bankruptcy in 2019
Forever 21’s US operator on Sunday filed for bankruptcy for the second time in six years and said it would wind down operations in the country, hurt by mounting online competition in the fast-fashion sector and weak mall traffic.
The company blamed the situation on higher costs and foreign companies taking advantage of duty-free treatment of low-cost packages from China to undermine its pricing power.
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