Forever 21 S Founders Lose Billions As Their Once Hot Fast Fashion Empire Careens Towards Bankruptcy
The Changs founded Forever 21 in Los Angeles in 1984. Years of expanding aggressively and moving into department store sized locations is over. Forever 21 is downsizing and closing stores almost as fast as it opened new locations not that long ago. The once hot retailer is in the midst of a serious sales slump as people move away from malls in general and today’s teens prefer Zara, H&M, and online retailers like Fashion Nova and Asos....