Consumer
Bankrupt Forever 21 Closes Stores in Mimic of Online Rivals
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If you can’t beat them join them. That’s the strategy behind saving the Forever 21 name as the last remaining stores in the US are shuttered and the brand pursues a model that is similar to its online competitors.
US Bankruptcy Judge Mary Walrath gave the company temporary permission on Tuesday to start going-out-of business sales at all of the 354 stores while managers try to find a last-second rescuer for part of the 41-year-old clothing chain, which filed for protection from creditors on Sunday.