Forever 21 blames bankruptcy on de minimis exemption
Forever 21, the US clothing retailer, has gone down shouting: it has squarely blamed its ...
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The Hong Kong-based company which was a by-word for outsourcing in Asia is in the middle of business restructuring as some of its major customers, such as Walmart, switch to direct souring from Asian manufacturers, and is now looking to develop its branding and distribution arms. Although first-half profits fell way short of forecasts, it said business levels in the second half of the year were picking up.
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