Fashion retailer Forever 21 Inc filed for Chapter 11 bankruptcy on Sunday as it joined a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce.
Popular singer Ariana Grande has sued Forever 21 for US$10 million, accusing the fashion retailer and a beauty company started by its billionaire founders' daughters of piggybacking off her fame and influence to sell their wares.
Fashion retailer Forever 21 Inc is preparing for a potential bankruptcy filing, Bloomberg reported on Wednesday, citing people with knowledge of the plans.