The retailer’s US operating company filed for bankruptcy Sunday — for the second time in six years — in a court in Delaware, citing fierce competition from foreign fast fashion retailers. It marks the end of an era for a clothing brand that introduced many teens to fast fashion.
They and the myriad other junk clothing companies that are somehow paying mall rent can all go.
It’s more convoluted. Simon Malls has a stake in catalyst brands which owns Forever 21 JCPenney and SHEIN. Yes, that SHEIN.
Amazing. I have a Simon mall right next to work and there are several stores taken up by private retail who sell nothing more than hats or junk t shirts. They must have way below market rent.
I think mall landlords will do that if occupancy drops low enough, because once your mall gets known for being a dead mall, you’re fucked.
Definitely agree