FOREVER 21 Will Be Shutting Down 178 Stores After Filing For Bankruptcy!

Ask any shopaholic you know, and they will probably tell you how FOREVER 21 is one of their go-to stores for budget-shopping. After all, it is known for curating a diverse catalogue of fashionable products (catering to both men and women) that won’t make you file for bankruptcy. However, in an unfortunate and ironic development, the famous retail chain is itself filing for bankruptcy, and is all set to shut down as many as 178 stores!

FOREVER 21, which was founded back in 1984, has recently become one of the most popular stores to shop from, especially since, unlike its competitors Zara and H&M, it’s also comparatively budget-friendly. Which is also why this development is quite surprising, however according to reports, one of the main reasons for the same is said to be the ever increasing competition from e-commerce portals. Another reason is said to be a shift among consumers to more eco-friendly, biodegradable, and reusable clothes.

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