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Last Year's Model
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Another retailer is headed to Chapter 11: Forever 21, where your teen daughter used to buy clothes. She doesn't anymore, it seems. This one might be a bigger deal because Forever 21 has filled a lot of empty anchor positions in malls nationwide, and if they go away, there will be a lot of malls where they can't be replaced. As for what happened, there are the usual stories of mismanagement, ownership troubles, miscalculations, overexpansion, and changing tastes in both fashion and how people buy clothes (namely, online). (Bloomberg)
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