Forever 21 files for bankruptcy protection in US amid stiff online competition
Forever 21 has filed for bankruptcy protection for a second time as traffic in US shopping centres fades and competition intensifies from online retailers such as Amazon, Temu and Shein.
F21 OpCo, which runs Forever 21 stores, said that it will wind down the business in the US under Chapter 11 bankruptcy protection while determining if it can continue as a business with a partner, or if it will sell some or all of its assets.
“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, ” chief financial officer Brad Sell said in a statement.
The de minimis tax exemption lets shipments Насочени към американските предприятия и консуматори, оценени на по -малко от 800 $, с цел да влязат в страната без налози и безмити. подаван...
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