Forever 21 is reportedly preparing to file for bankruptcy. We traced the history of the teen retailer.
Forever 21, once one of the world's leading clothing retailers, has fallen on hard times. The company was founded in 1984 and pulled in $700,000 in sales in its first year. Today there are over 800 Forever 21 stores worldwide. Founders Jin Sook and Do Won"Don" Chang had a combined net worth of $5.9 billion at the company's peak in 2015, Forbes reported. They were no longer billionaires as of July, according to Forbes' estimates.
Forever 21, once one of the world's leading clothing retailers, has fallen on hard times. The company was founded in 1984 and pulled in $700,000 in sales in its first year. Today there are over 800 Forever 21 stores worldwide. Founders Jin Sook and Do Won"Don" Chang had a combined net worth of $5.9 billion at the company's peak in 2015, Forbes reported. They were no longer billionaires as of July, according to Forbes' estimates.
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