• By Sahar Nazir
• 30 Sep, 2019

Forever 21 has announced it will close up to 350 stores globally after filing for Chapter 11 bankruptcy protection in the US. The fast fashion retailer, which has just a few stores in the UK, filed for bankruptcy thanks to the growth in online retailers such as Amazon. Chapter 11 protection resembles a CVA in the UK, delaying a US company’s financial obligations to creditors to give it time to refinance or sell parts of the business...
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