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Forever 21 Files For Bankruptcy; Plans To Exit Asia, Europe

PYMNTS

The filing will allow the retailer to continue operating while it attempts to reorganize the business and return to profitability. The company is struggling with online competition and changing clothing trends, like sustainable fashion and secondhand clothing. Forever 21 plans to close up to 178 stores in the U.S.,

Retail 148
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Wells Fargo Fallout, New Amazon Payments Top Week’s News

PYMNTS

Despite Papyrus’ Closing, Stationery Retail Is Not All Doom-And-Gloom. Fifty-one percent of United States consumers stated in the most recent PYMNTS Disbursements Satisfaction Report that they would prefer to receive tax refunds, child support payments and other government payments through instant payout methods.

Payments 150