Forever 21, the US clothing retailer, has gone down shouting: it has squarely blamed its latest Chapter 11 bankruptcy on de minimis exemptions creating unfair competition.
Owing its transport and logistics providers some $2m, it filed a Chapter 11 petition on Sunday, noting it operates in a “highly competitive retail environment”.
Stephen Coulombe, the co-chief restructuring officer noted: “The debtors’ business has been materially and negatively impacted by the ability for online …
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