2019: Fashion chain Forever 21 files for bankruptcy

US fashion retailer Forever 21 has filed for bankruptcy that adds the company to a growing list of brick and mortar brands that have lost out in the competition with e-commerce since the start of 2017. More than 20 American retailers, including Sears and Toys-R-Us, have filed for bankruptcy protection. Their customers are flipping to online retailers like Amazon, according to a court filing. Forever 21 said it had estimated liabilities between 1:00 to $10 billion. The company says it's received hundreds of millions in funding to keep up business as usual. However, it says it plans to close most of its international locations in Asia and Europe. The company will keep its operations open in Mexico and Latin America. Last week, it said it would leave Japan and close all 14 stores there by the end of October.