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 — Senate Minority Leader Chuck Schumer postponed events to promote his forthcoming book, citing security concerns as he faces backlash from Democratic voters over his decision to support a Republican measure to avert a government shutdown.
A massive storm system that brought high winds, rain, tornadoes and wildfires killed at least 40 people in the Midwest and South over the weekend. Some survived the extreme weather by leaving just in the nick of time or riding out the storm.
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President Trump said he plans to speak to Russian President Vladimir Putin on Tuesday about ending the war in Ukraine after three years of fighting sparked by Russia's full-scale invasion of its neighbor.
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.
Retail sales around the U.S. rose a modest 0.2% in February, missing forecasts amid fears that the economy is slowing, new government data shows.
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UCLA is the top overall seed in the women's NCAA Tournament. The Bruins were joined by South Carolina, Southern California and Texas as the No. 1 seeds that the NCAA revealed Sunday night.
A sleepy Selection Sunday this was not.