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Forever 21 Files For Bankruptcy; Plans To Exit Asia, Europe

PYMNTS

The filing will allow the retailer to continue operating while it attempts to reorganize the business and return to profitability. is expected to reach $64 billion by 2028, according to the retail analytics firm GlobalData , CNBC reported. Fast-fashion chain Forever 21 has filed for Chapter 11 bankruptcy protection.

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FinServ Starts To Draw The Line Between Freelancer And Small Business

PYMNTS

Increasingly, growing demand for improved digital services, and the emergence of FinTechs targeting small businesses, has encouraged traditional banks to develop tools specific to their SMB customer base, which was once too big for retail products and too small for enterprise services. The gig economy continues to expand in the U.S.

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Wells Fargo Fallout, New Amazon Payments Top Week’s News

PYMNTS

Despite Papyrus’ Closing, Stationery Retail Is Not All Doom-And-Gloom. Fifty-one percent of United States consumers stated in the most recent PYMNTS Disbursements Satisfaction Report that they would prefer to receive tax refunds, child support payments and other government payments through instant payout methods.

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