Forever 21 Files For Bankruptcy
It's no secret that retail stores have been having a tough time the last decade or more, battling online shopping. The latest store to face tough times is the fashion chain, Forever 21.
According to WGRZ, Forever 21 is filing for Chapter 11 bankruptcy protection.
The chain will reportedly close up to 178 stores, At one point, Forever 21 had 800 stores in 57 different countries.
In 2019, publicly traded U.S. retailers have announced over 8,500 store closings, while opening over 3,400 according to Coresight Research. Nearly 5,500 stores closed in all of 2018.
As great as online shopping is, there's still something unique and irreplaceable as going into an actual store, especially during Christmastime. I'm trying to picture a day where hardly any physical stores are left, instead being entirely online.
Read the full story at WGRZ.