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flag Fashion retailer Forever 21 closes all U.S. stores due to competition and rising costs.

flag Once-popular clothing brand Forever 21 is closing all its US locations, including its last store in Minnesota. flag The company cited foreign competition from fast-fashion retailers like Shein and Temu, rising costs, and changing consumer trends as reasons for its bankruptcy and closure. flag Retail store closures hit their highest level since the pandemic in 2024, with more expected in 2025.

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