Forever 21 fashion, once a fast-fashion staple, files for bankruptcy for a second time
CBSN
Forever 21's U.S. retail operator has filed for bankruptcy, the second time for the brand, which has been battered by diminishing mall traffic, inflation and online competition.
The company said it stores and website in the U.S. would stay open for the time being, but that it would start to wind down its U.S. business.
"While we have evaluated all options to best position the company for the future, we have been unable to find a sustainable path forward, given competition from foreign fast-fashion companies, which have been able to take advantage of the de minimis exemption to undercut our brand on pricing and margin," Brad Sell, CFO of F21 OpCo said Sunday in a statement.
Washington — President Trump on Friday announced that the U.S. Air Force is moving ahead with a sixth-generation fighter jet known as the F-47, with Boeing being awarded the contract to manufacture the new aircraft.
Washington — The Trump administration on Friday is expected to cut 40% of the Small Business Administration staff as part of its wider effort to shrink the federal bureaucracy, three sources familiar with the plans told CBS News.
Elon Musk visited the Pentagon Friday morning to meet with Defense Secretary Pete Hegseth about "innovation, efficiencies & smarter production," Hegseth said in a post on X Thursday night.
Washington — President Trump on Thursday rescinded an executive order targeting a prominent international law firm after it pledged to review its hiring practices and to provide tens of millions of dollars in free legal services to support certain White House initiatives.
A flurry of court documents filed this week in the case of Bryan Kohberger, the man charged in the killings of four University of Idaho students in late 2022, offers new details about how the case against him is shaping up. Among those documents revealed by prosecutors is what appears to be a selfie Kohberger took on his phone just hours after the killings.
Kilauea volcano eruption in Hawaii spews lava 700 feet high, leaving visitors "gasping in amazement"
Lava from Hawaii's most active volcano created fountains that reached 700 feet Thursday during the latest episode of an ongoing eruption.
Orlando, Fla. — A Southwest Airlines flight almost took off from a taxiway - rather than a runway - at a central Florida airport on Thursday before an air traffic controller stopped the plane, officials said.
Dismantling Department of Education could cause chaos for Americans with student loans, experts warn
President Trump's executive order on Thursday starting the process of dismantling the Department of Education could throw federal student loan programs into disarray and lead to frustration for millions of borrowers, according to experts.
The head of Shin Bet, Israel's domestic intelligence agency, was dismissed Friday, according to a statement from Prime Minister Benjamin Netanyahu's office.
Edesia Nutrition was among the fortunate few whose USAID agreement survived a whipsaw couple of months that saw the cancellation of more than 80% of the agency's foreign assistance contracts.
Washington — A federal judge on Thursday said the Justice Department "evaded its obligations" with a "woefully insufficient" response to his demand for more information about deportation flights that are at the center of a growing legal stand-off between the Trump administration and the courts.
Wildland firefighters will keep a 4-year-old pay hike under a GOP-led spending bill signed by President Donald Trump, but many worry that mass federal worker firings will leave the nation more vulnerable to wildfires.
Tesla is stepping up security at its dealerships in the wake of vandalism and protests targeting Elon Musk's electric car company, the billionaire adviser to President Trump said on Thursday.