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.