(Photo Source: medium.com)

They will start by closing 300 stores globally

After circulating rumors spurring this past summer, Forever 21 has officially filed for bankruptcy. The decision marks a sad day for lovers of the affordable on-trend brand, and a moment of celebration for those fighting against the world of fast fashion, to which Forever 21 is a huge contributor.

In addition to filing for Chapter 11 bankruptcy, the mall-staple will close over 300 stores globally. The decision comes after a drastic decrease in in-person shopping and deteriorating shopping mall culture.

In conjunction with a demographic that prefers online shopping, Forever 21 also battles the new trend of sustainable purchasing behaviors. While some major brands have sought ways to fit into this sector, such as H&M and Zara, who have each set initiative to source raw goods more sustainably and work to decrease harmful emissions, Forever 21 failed to make the same environmentally-conscious effort.

As of now, their website seems to be unaffected by the decision, but whether or not their online presence will remain is uncertain. Major sales are expected in closing stores to empty out as much inventory as possible.