[Forever 21]Shutterstock/freemind-production * FOREVER 21, THE CALIFORNIA-BASED CHAIN WHICH HELPED PROLIFERATE THE "FAST-FASHION" TREND, WILL FILE FOR BANKRUPTCY. * LINDA CHANG, THE COMPANY'S EXECUTIVE VICE PRESIDENT, TOLD THE NEW YORK TIMES THAT THE RETAILER WOULD SOON CEASE OPERATIONS IN 40 COUNTRIES AND CLOSE UP TO 350 STORES GLOBALLY. * THE COMPANY WILL STILL OPERATE IN HUNDREDS OF LOCATIONS ACROSS THE US AND MAINTAIN ITS ONLINE STORE. * VISIT BUSINESS INSIDER'S HOMEPAGE FOR MORE STORIES. Forever 21, an American mall mainstay which helped proliferate the "fast-fashion" trend, will file for bankruptcy. Linda Chang, the California-based company's executive vice president, told the New York Times on Sunday night that the retailer would soon cease operations in 40 countries as part of a Chaper 11 filing. SEE THE REST OF THE STORY AT BUSINESS INSIDERNOW WATCH: Dollar stores are a billion-dollar industry. Here's how they get customers to spend more money. SEE ALSO: * Here are the 7 most treacherous places to drive in the US, according to truck drivers who work there for a living * Nancy Pelosi says the public backs Trump's impeachment amid new polls * The Latest: Migrants in Greece set fires, clash with police
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