Fashion Retail Developments 5-2-2025

Fashion Retail Developments 5-2-2025 Here’s a roundup of the latest developments in the global fashion retail industry as of May 3, 2025: Major Retail Closures and Restructuring Forever 21 has permanently closed all 354 of its U.S. stores following a Chapter 11 bankruptcy filing in March. The company cited rising operational costs and stiff foreign competition, particularly from retailers like Shein and Temu, as reasons for its business model becoming unsustainable. International operations remain unaffected. Vogue Business Bonmarché, a UK-based fashion retailer, announced the closure of its Hemel Hempstead store in July, following a recent closure in Derbyshire. The company attributes these closures to rising operational costs and changing consumer habits, including a...