{"id":89661,"date":"2019-09-02T12:28:09","date_gmt":"2019-09-02T10:28:09","guid":{"rendered":"https:\/\/highxtar.com\/?p=89661"},"modified":"2019-09-02T12:28:09","modified_gmt":"2019-09-02T10:28:09","slug":"forever-21-from-the-american-dream-to-bankruptcy","status":"publish","type":"post","link":"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/","title":{"rendered":"Forever 21: From the American Dream to Bankruptcy"},"content":{"rendered":"

For many years, Forever 21<\/strong> served as the material for the retail legend, the story of the American dream<\/strong>, but has this dream come to an end?<\/p>\n

\"Forever<\/p>\n

The initial investment of its founders, Do Won and Jin Sook Chang , was only 10,000 euros to start the business. In February 2014, it generated revenues of 3.4 billion.<\/h2>\n

The couple opened the first store “Fashion 21”<\/strong> in the mid-80s. Over time, in addition to changing the name, they managed to expand Forever 21 to 600 stores in 57 countries with more than 30,000 employees<\/strong>. But times have changed.<\/p>\n

\"Forever<\/p>\n

Far away is this cover that they starred in just a year ago, when they still had 4,000 million. This past year, the net worth of the co-founders of Forever 21 has collapsed along with the store’s sales. As Forbes reported a month ago, they are no longer multimillionaires<\/strong>.<\/p>\n

At the company’s peak in 2015, Jin Sook and Do Won Chang had a combined net worth of $5.9 billion. But their combined fortune has fallen to $1.6 billions<\/strong> – or $800 million each – after a failed attempt to restructure their debt. The causes are varied: increased competition, changing consumer attitudes, poor online offerings…<\/p>\n

\"Forever<\/p>\n

The company has been forced to seek rent reductions<\/strong> to avoid bankruptcy in recent years, but new reports say it is not enough. Forever 21 is about to file for bankruptcy<\/strong> after continued poor business results.<\/p>\n

\"Forever<\/p>\n

Although Forever 21 operates more than 800 stores in the United States, Europe, Asia and Latin America<\/strong>, its future does not look too good. However, it’s not the first time it’s happened, luxury company Barneys New York<\/a> also recently filed for bankruptcy<\/strong> and announced it will close 15 of its stores. Topshop<\/strong><\/a> is also not in its best moment, closing all its U.S. stores in May<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

For many years, Forever 21 served as the material for the retail legend, the story of the American dream, but has this dream come to an end?<\/p>\n","protected":false},"author":11,"featured_media":89696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[603],"tags":[1682],"class_list":["post-89661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fashion-en","tag-natalia-canoa-en"],"acf":[],"yoast_head":"\nForever 21: From the American Dream to Bankruptcy - HIGHXTAR.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forever 21: From the American Dream to Bankruptcy\" \/>\n<meta property=\"og:description\" content=\"For many years, Forever 21 served as the material for the retail legend, the story of the American dream, but has this dream come to an end?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/\" \/>\n<meta property=\"og:site_name\" content=\"HIGHXTAR.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/highxtar\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-02T10:28:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/highxtar.com\/wp-content\/uploads\/2019\/09\/thumb-forever-21-bancarrota.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Natalia Canoa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@highxtar_\" \/>\n<meta name=\"twitter:site\" content=\"@highxtar_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Natalia Canoa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/\"},\"author\":{\"name\":\"Natalia Canoa\",\"@id\":\"https:\/\/highxtar.com\/#\/schema\/person\/3900aea80481e4c4d0a2639aa708bc6c\"},\"headline\":\"Forever 21: From the American Dream to Bankruptcy\",\"datePublished\":\"2019-09-02T10:28:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/\"},\"wordCount\":296,\"publisher\":{\"@id\":\"https:\/\/highxtar.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/highxtar.com\/wp-content\/uploads\/2019\/09\/thumb-forever-21-bancarrota.jpg\",\"keywords\":[\"Natalia Canoa\"],\"articleSection\":[\"Fashion\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/highxtar.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/\",\"url\":\"https:\/\/highxtar.com\/en\/forever-21-from-the-american-dream-to-bankruptcy\/\",\"name\":\"Forever 21: From the American Dream to Bankruptcy - 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