Welp, Forever 21 Officially Files For Bankruptcy

Low-Cost Apparel Retailer Forever 21 To File For Bankruptcy According To Reports

Forever 21 has been trying different alternatives to increase revenue these past few months, but ultimately they have filed for bankruptcy.

According to CNBC, the company filed for Chapter 11 bankruptcy this past weekend.Forever 21 also is expected to close about 200 locations across the U.S. Its internet sales are only making about 16% in profit. This will not only effect Forever 21 employees but will effect malls.

Photo:Getty Images

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