Forever 21 Seeks Major Rent Cuts Amid Ongoing Financial Struggles

The fast-fashion retailer negotiates with landlords to reduce expenses as it grapples with declining sales and fierce competition.

Forever 21 requests up to 50% rent reductions from landlords to mitigate financial challenges.
The retailer's financial woes persist despite a previous bankruptcy and store closures.
Competition from ultra-fast-fashion brands like Shein and Temu exacerbates Forever 21's difficulties.
Forever 21's late payments to vendors indicate deeper financial instability.
Partnership with Shein aims to drive foot traffic and sales, but long-term viability remains uncertain.