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A leader in “cheap chic” clothing for teenage girls and young women, Forever 21, is planning to buy competitor Gadzooks out of bankruptcy in a $33 million deal.
The move will increase the size of Forever 21, which currently has about 200 stores. The company has agreed to take over leases on at least 150 Gadzooks stores.
Analysts said Forever 21 is on a roll. “Theyre just getting more aggressive,” said Elizabeth Pierce, an analyst at Sanders Morris Harris. “You have to wonder: Whats next?”
Read the entire Los Angeles Times story here.