Fast-fashion retailer Forever 21's US operating company on Sunday filed for Chapter 11 bankruptcy for the second time in six years, hamstrung by dwindling mall traffic and mounting competition from online retailers.
The move likely means liquidation for the company, which was unable to find a buyer for its roughly 350 US stores. Its trademark and intellectual property — still held by an entity called Authentic Brands Group — may live on in a different form.
