Popular Crossgates Mall Clothing Store In Danger of Closing
Another major retailer is filing for bankruptcy and closing stores all over the country. It looks as if the one in Crossgates Mall may be on the chopping block. According to News Channel 13, in the last year, the popular store, Forever 21 has been struggling. The fast-fashion store has also fallen out of style. They say that young customers are more interested in second-hand sites and buying eco-friendly products. Forever 21 has seen the decline and is now filing for bankruptcy.
Forever 21 stores are located in larger malls so the rents are high and the demand lower. They are going to try and renegotiate rent. It seems as if our very own Forever 21 in Crossgates Mall is one of the one hundred seventy-eight stores in the US that are unprofitable. These stores may not all close but are being considered.
These one hundred seventy-eight stores are about one-third of the Forever 21 US stores. To see a map of all the stores that aren't turning a profit, click HERE.