Forever 21 files for bankruptcy, multiple stores to close


(CNN) – Popular teenage clothing store Forever 21 has filed for bankruptcy.

This makes it the latest retailer to collapse amid a growth in online shopping and lack of mall foot traffic.

Forever 21 is just one of the dozens of retailers that will be closing their doors.

Experts believe that up to 12,000 stores from traditional brick and mortar locations will be permanently shuttered by the end of the year.

The chain announced Sunday night that it will close up to 178 of its more than 800 stores, though locations have yet to be announced.

It is unknown if the location in the Mall at Johnson City will be affected.

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