R.I.P. Forever 21
Delia’s mall competitors soon succumbed to similar fates. Wet Seal, Quiksilver, Pacific Sunwear, Aéropostale, The Limited, Rue21, Papaya, Claire’s, and Charlotte Russe have all since filed for bankruptcy protection. Many other retailers have closed stores, changed strategies, or restructured businesses. Earlier this week, after months of speculation, one of teen apparel’s biggest power players joined that ignominious club: Forever 21 filed for bankruptcy. The store plans to close hundreds of locations and cease operations in dozens of countries in an effort to save the business.