Abu Dhabi, UAESunday 6 December 2020

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donna adds pic to story and collection
donna adds pic to story and collection

Fashion retailer Forever 21 filed for Chapter 11 bankruptcy on Sunday as it joined a growing list of brick-and-mortar companies who have succumbed to the onslaught of e-commerce.

Since 2017, more than 20 US retailers including Sears Holdings and Toys 'R' Us, filed for bankruptcy as more customers shop with online retailers such as Amazon.

The company lists both assets and liabilities in the range of $1 billion (Dh3.67bn) to $10bn, according to the court filing in the US Bankruptcy Court for the District of Delaware.

Updated: September 30, 2019 02:26 PM

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