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Is Forever 21’s Clothing Empire Coming to an End?

NAGOYA, JAPAN - AUG 19: Forever 21 Store in Nagoya, Japan on August 19, 2014. Forever 21 fashion label has 480 stores worldwide and had USD 2.6 bn revenue in 2011. - Image

Forever 21 was at one point one of the world’s leading fast fashion retail , companies. Now with over $500 million dollars in debt, the company has filed for bankruptcy, contributing to the 15,000 retail stores that have already closed down due to the shift in consumer preferences for online shopping. So how did Forever 21 meet such an economic pitfall, and what does the future have in store for them? Business Insider has answers.

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