Forever 21, the go-to store for American teenagers for decades, is asking landlords to cut its rent by as much as 50 percent in some areas.
The retailer is facing financial difficulties amid stiff competition from up-and-coming players in the fast fashion sector.
It is working to renegotiate the leases for its some 380 US stores as a way to cut costs, reported. For now it has not appointed special advisors and is not considering a second bankruptcy.
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