The Fast-Fashion Retailer Forever 21 ‘US Operating Company is included for a second chapter 11 years of six years, Hamstrung in the competition of supermarkets and Internet retailers and online retailers.
Potential travel means a reduction of the company, which could not receive a consumer of its approximately 350 US stores.
The company said its international stores remain unemployed.
Its commercial sign and mental assets – a business called Brand Group – can live in a separate form.
Mega-Mall Era ends
E-Commerce’s Height, paired of slowly American Megan Mega Mall death, has been full of permanent headaches.
Forever 21 said it would make the sale of the termination of shops while at the same time performs the process used in court and marketing to others or all its assets.
The company obtained an estimated $ 100 million estimates of $ 500 million, according to the completion of the bank court in the Delaware region, $ 1 billion. Fulfillment also showed creditors in the number of 10,001 to 25,000.
In the event of successful sales, permanent sales 21 means may be a complete air down to activate applicable transactions.
The company said its supermarkets and website in the United States will be open and continue to serve customers.
Mental property can live on
Forever 21 is managed by the Catalyst Brands, a business built in Jan. 8 For an eternal owner, the Sparc group, and JC penney, JC Penney, JPRew Chain held by Mall and Simon Property Group.
When the types of catalyst products were formed, the statement was “on the” permanent “techniques”.
True products will continue to have eternal construction 21 and the assets of understanding, which can live in a situation.
Brands Ceo Ceo Jamie Salter last year called the next year 21 “The biggest mistake I’ve made.”
It was established in Los Angeles in 1984 by the South Korean immigrants, forever 21 in its popularity between young Consumers but inexpensive. In 2016, it worked at 800 stores around the world, 500 of those in the United States.