'Forever 21 lost out on $150 mn in online sales,' says parent firm; sues Bolt

Forever 21's parent company Authentic Brands Group (ABG) has sued American payments startup Bolt, alleging that the startup failed to deliver promised technology. ABG also said that during Bolt's integration with Forever 21, the clothing retailer lost out on over $150 million in online sales. Bolt called ABG's claims "a transparent attempt" to renegotiate the terms of the companies' agreements.