Forever 21 seeks rent concessions as fast fashion brand faces financial woes

Forever 21 is seeking a rent reduction of up to 50% from some landlords as it faces financial difficulties1. The company is struggling to manage its large store footprint and compete with more agile digital competitors. Forever 21 has more than 380 stores in the U.S. and has asked some landlords to cut its rent by as much as 50%.

Forever 21's main competitors in the fast fashion industry now include ultra-fast fashion retailers like Shein and Temu. These companies have been able to compete effectively due to their speed, on-demand manufacturing, and strong supply chains, which allow them to quickly produce and sell trendy clothing items.