Forever 21, once among America's fastest growing fast-fashion retailers, files for bankruptcy

Shutterstock/freemind-production Forever 21, the California-based chain which helped proliferate the "fast-fashion" trend, has filed for bankruptcy. The company wrote in a letter to its customers on Sunday that Forever 21 inc. voluntarily applied for bankruptcy as part of a Chapter 11 filing. Linda Chang, the company's executive vice president, told the New York Times that the retailer would soon cease operations in 40 countries and close up to 350 stores globally. The company will still operate...