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According to CNBC, the fast-fashion company filed for bankruptcy protection for the second time in six years and plans to close all its U.S. stores. People online are devastated. It's the end of an era, and Forever 21 — and the internet — are blaming other fast-fashion retailers like Shein and Temu.
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In a court filing reported by CNBC, the company said Shein and Temu "materially and negatively impacted" Forever 21.
"Certain non-U.S. online retailers that compete with the Debtors, such as Temu and Shein, have taken advantage of this exemption and, therefore, have been able to pass significant savings onto consumers," Stephen Coulombe, the operating company’s co-chief restructuring officer, wrote, according to CNBC. "Consequently, retailers that must pay duties and tariffs to purchase product for their stores and warehouses in the United States, such as the Company, have been undercut."
Of course, despite Forever 21 blaming Shein and Temu, it is also fast fashion. All of these companies exploit labor, have disastrous effects on the climate, and encourage overconsumption. According to Business Insider, the average person bought 60 percent more clothing in 2014 than they did in 2000, but they kept the pieces half as long.
Greenpop reported that about 80 billion pieces of clothing are bought every year, a 400 percent increase from two decades ago. However, according to Human Rights Pulse, the vast majority of those pieces, around 85 percent, end up in landfills, leading to mass human rights violations.
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