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.
Amazon is suing the U.S. Consumer Product Safety Commission over the government agency's order requiring the online retailer to recall hundreds of thousands of potentially hazardous products sold by other sellers on its platform.
Washington — A federal judge on Tuesday found that Elon Musk and the White House's Department of Government Efficiency likely violated the Constitution when they unilaterally acted to shut down the U.S. Agency for International Development.
An Immigration and Customs Enforcement officer provided new details about the Trump administration's deportation flights of alleged gang members, but continued to argue the government had a right to reject a judge's order directing the planes to return to the U.S., even if they were already in the air.
More than 3 million deaths are reported to the Social Security Administration each year. Among them, a small portion — less than 10,000 — are erroneous and need to be corrected, according to the agency.
Washington — Chief Justice John Roberts issued a rare statement Tuesday defending federal judges who have issued decisions against the Trump administration, saying that "impeachment is not an appropriate response to disagreement" with a court's decision.
Chinese electric vehicle maker BYD says its new cars can be charged in almost the same time it takes to refill a gas engine vehicle at the pump, giving the world's top EV seller a major advantage in a highly competitive market.
Washington — More than 24,000 workers at 18 federal agencies who were fired as part of President Trump's efforts to shrink the size of the government are now in the process of being rehired following a federal judge's order last week.
Investors are bailing out of U.S. stocks — big time.
The Federal Bureau of Investigation is warning Americans to take precautions while traveling abroad on spring break.
Google owner Alphabet will buy cybersecurity firm Wiz for $32 billion — in a deal set to boost the tech giant's in-house cloud computing amid burgeoning artifical intelligence growth.
Senate Minority Leader Chuck Schumer argued Tuesday that he remains the "best leader for the Senate" despite backlash from some Democrats over his decision to allow a Republican-led measure to advance, avoiding a government shutdown.
The family of missing college student Sudiksha Konanki has asked authorities that she be declared deceased, the Loudoun County Sheriff's Office in Virginia told CBS News, almost two weeks after she disappeared while visiting Punta Cana for spring break.
A 13-year-old boy has been charged with murder in a fatal hit-and-run of a bicyclist in Albuquerque that was captured on video from inside the boy's stolen car, law enforcement said Monday.