Forever 21 Files for Chapter 11 Bankruptcy After Weeks of Rumors

The former fast-fashion leader made the announcement late Sunday night

Forever 21 has over 800 stores, 500 of which are in the U.S. Jeenah Moon — Bloomberg via Getty Images

Forever 21, the retailer that served as a fast-fashion pioneer has filed for Chapter 11 bankruptcy. The news was announced late Sunday night.

@dianapearl_ diana.pearl@adweek.com Diana is the brand marketing editor at Adweek and managing editor of Brandweek.