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Freshly Squeezed: 30.09.19

Reading Time: 2 mins
By Published On: September 30, 20190 Comments

Forever 21 files for Chapter 11 Bankruptcy and Uniqlo is selling clothes made from recycled bottles. Get a healthy dose of news as we uncover the day’s top stories in e-commerce and retail.

Gatsby Raises $15 Million in Funding

California-based company, Gatsby, has raised $15 million in Series A funding led by CRV. Gatsby is a platform that allows developers to create a website in a faster and more efficient way. Some of its users include IBM, PayPal, Braum and Airbnb, among others. “We’ve spent four years building Gatsby to be the most comprehensive platform for building a modern website. What would take companies months or even years to implement with a cutting edge web stack is trivial to start with, build with, and deploy on Gatsby,” explained Co-Founder and CEO, Kyle Mathews.

Forever 21 Files for Chapter 11 Bankruptcy

The U.S. fast-fashion retailer, Forever 21, has filed for Chapter 11 Bankruptcy after months of deliberation. Aimed at teenagers, the clothing retailer will close 178 of its 800 stores throughout Northern America. “This does NOT mean that we are going out of business – on the contrary, filing for bankruptcy protection is a deliberate and decisive step to put us on a successful track for the future,” a statement by the retailer read.

“We are confident this is the right path for the long-term health of our business. Once we complete a reorganization, Forever 21 will be a stronger, more viable company that is better positioned to prosper for years to come. We look forward to continuing to provide you with the great service and curated assortment of merchandise that you expect from us.”

Uniqlo to Sell Clothes Made from Recycled Bottles

Japanese retailer, Uniqlo, is beginning to sell clothes made from recycled bottles. In cooperation with Toray Industries Inc, the new collection of clothing will be made from recycled plastic, in an effort to reduce waste across the globe. “Young people are especially conscious of sustainability. European consumers have high awareness. I’m confident that (the new products) will be accepted,” explained Tadashi Yanai, CEO, President and Chairman of Uniqlo. The collection will be available for purchase for S/S 2020.

Catch up on last Thursday’s Freshly Squeezed news here.

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