50 Brands on the Brink of Declaring Bankruptcy

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Forever 21 announced in September 2019 that would have to file for bankruptcy. Along with this, it’s closing 350 stores worldwide, and ceasing operations in 40 countries, including Canada. The brand helped create the “fast fashion” trend, but it wasn’t enough.

Forever 21

Forever 21 emerged from bankruptcy in February 2020, having restructured its operations and reduced its debt. However, the COVID-19 pandemic hit shortly after, which impacted the company's sales and operations once again. In July 2020, Forever 21 announced that it would be closing an additional 13 stores, mostly in California. The company also shifted its focus towards e-commerce and reducing its physical footprint.

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Did you know...

  • Once you've handled all your money, you should probably wash your hands. Money is some of the dirtiest things that we own. In fact, it's been found to be dirtier than a household toilet! During flu season, the virus can live on a bill for up to 17 days. That's just plain disgusting!
  • When it comes to counterfeiters, North Korea are pros. They have gotten so good at counterfeiting American currency (particularly the $50 and $100 bills) they their fakes are known as "superdollars." They require specialized Federal Reserve equipment to be identified. There are $45 million worth of North Korean fakes…that we know of.
  • Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!
  • Have you ever wondered who prints the most money? That would be Hasbro, as in the makers of Monopoly. Hasbro prints more Monopoly money in a given year than there is money in the entire world. Each set of the game comes with $20,580. Bet you didn’t know you had that much money lying around the house!
  • The most expensive hotel room in the world (the Royal Penthouse Suite at the Hotel President Wilson in Geneva, Switzerland) costs $83,200 a night. That's $58 per minute for a stay! Good thing it has 12 bedrooms, 12 baths, a wraparound terrace, a Steinway piano, and an assigned private staff (including a chef)!