Forever 21 might close these 26 Southern California stores because of bankruptcy
When it filed for Chapter 11 bankruptcy Sunday, the Los Angeles company said it planned to shutter about 350 of its 800 stores worldwide, including about 178 of its 549 U.S. outlets.
Among the Southern California outlets are stores in Los Angeles, Culver City, Pasadena, Valencia, Arcadia and Newport Beach.Privately held Forever 21, a major player in the fast-fashion sector that provides a rapidly changing assortment of apparel at modest prices, sought bankruptcy protectioncaused by slowing mall traffic, its own overexpansion and shifting consumer buying habits toward online shopping.
The firm acknowledged in its filing that Forever 21 has struggled to support its “outsized store footprint as consumers increasingly purchase clothing and other goods online.”
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