Forever 21 Bankrupt: Offline Retail Will Not Be Forever?

By Editorial Team 09/10/2019
Summary

Famous fashion store Forever 21 was declared bankrupt. The main factors are high debt and a decreasing number of consumers. As of 2019, it has a consolidated liability of US$ 1 billion-US$ 10 billion. The legendary retail chain plan to close 178 stores in the US, Asian and European markets from a total of 800 stores worldwide.

Forever 21 has three outlets in Indonesia, namely at Grand Indonesia Mall, Lippo Mall Puri, and Taman Anggrek Mall. Based on the CNBC report, the management of Forever 21 had downsized its outlets in Indonesia. The outlet in Grand Indonesia, for example, was streamlined from two floors to only one story.

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