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(CNN) -- Teen clothing retailer Forever 21 is preparing for a potential bankruptcy filing, according to several published reports.Forever 21, which is privately held, has more than 800 stores in 57 countries. And while many retailers have been paring back their network of stores in recent years, Forever 21 was adding stores as recently as 2016. It still has as many stores as it reported at that time.The ability to get out of leases and close stores at a lower cost is one of the advantages that the bankruptcy process affords to retailers.The company did not respond to requests for comment.Traditional brick-and-mortar retailers that specialize in selling clothes to teens and young adults have had a particularly hard time in recent years as younger buyers shift from mall visits to online purchases.Among the retailers in the segment that filed for bankruptcy and closed all their stores during the last five years are Wet Seal, American Apparel and Delia's. Aeropostale also filed for bankruptcy in 2016 but has kept some of its stores open.Many retailers have run into trouble due to being purchased by private equity firms or hedge funds. But Forever 21 is still owned by its founders, Do Won and Jin Sook Chang. A husband and wife team, the Changs immigrated from South Korea in 1981 and started the chain three years later with a single 900 square-foot store in Los Angeles and only ,000 in savings.Forbes lists the couple as having a net worth of .5 billion, and the privately-held company itself as having annual sales of .4 billion and 30,000 employees.Bloomberg reported in June that some members of Forever 21 management had asked some of its landlords to take a stake in the company as a way of coming up with funds it needs.Mall owner Simon Property Group, for which Forever 21 is a major tenant, took a stake in Aeropostale during its bankruptcy process. In July Simon Property CEO David Simon told investors it was open to working with other tenants facing trouble, without mentioning any by name."We'll work together on other distressed situations, and let's face it, there are some out there," Simon said. "But we're only going to buy into companies that, we think, have brands and that the volume that is worth doing it."But Bloomberg reported Thursday that Do Won Chang has been trying to maintain control of the company in any restructuring, and that his desire to do so has limited the company's ability to find funds it needs. 2469

(KGTV) — Former Blink-182 guitarist and Poway native Tom DeLonge is set to host a History Channel series centered on proving the existence of UFOs.The six-part series "Unidentified: Inside America's UFO Investigation" will feature DeLonge's interview with a former military intelligence official, Luis Elizondo, who confirmed the Pentagon's UFO program. According to the Associated Press, Elizondo told The New York Times in 2017 he used to run the Advanced Aerospace Threat Identification Program. RELATED: Blink 182's Tom DeLonge examines UFO report from San Diego Navy pilotThe series will also feature interviews with other former government and aerospace officials and, "produce tangible evidence to build the most indisputable case for the existence and threat of UFOs."“With this show, the real conversation can finally begin," DeLonge said in a statement. "I think everyone that watches the show will walk away with questions answered and a feeling of, “wow, I get it now.”‘The History Channel series is scheduled to air in May.DeLonge, who also fronts the band Angels & Airwaves, has long been fascinated by the extraterrestrial. He is CEO of To The Stars Academy, which aims to help researchers, "explore exotic science and technologies." 1261

(KGTV) — Despite the partial government shutdown, millions across the country will still be able to keep tabs on Santa Claus and expect their gifts this Christmas.As thousands of federal employees continue working without pay or are furloughed until the shutdown ends, agencies routinely depended upon this season cleared the air to reassure parents and kids.The North American Aerospace Defense Command tweeted Saturday that giddy children awaiting their holiday deliveries need not fear, they are here. About 1,500 volunteers who donate their time and efforts to put on the program every year will continue the 63-year tradition of tracking the big man every Christmas Eve.RELATED: Government shutdown: How San Diego is affected"In the event of a government shutdown, NORAD will continue with its 63-year tradition of NORAD Tracks Santa on Dec. 24. Military personnel who conduct NORAD Tracks Santa are supported by approximately 1,500 volunteers who make the program possible each and every year," the agency tweeted.In the event of a government shutdown, NORAD will continue with its 63-year tradition of NORAD Tracks Santa on Dec. 24. Military personnel who conduct NORAD Tracks Santa are supported by approximately 1,500 volunteers who make the program possible each and every year. pic.twitter.com/fY0oyjrdDc— NORAD & USNORTHCOM (@Norad_Northcom) December 21, 2018 1383

(CNN) -- Saturday marks the 78th anniversary of the Pearl Harbor attack, and one of the three remaining survivors of the USS Arizona will attend the annual ceremony in Hawaii.Lou Conter, 98, arrived this week after missing last year's celebration, the first time no survivors attended."I always come out to pay respect for the 2,403 men that were killed that day, including 1,177 of my shipmates on the Arizona," he said, CNN affiliate KHNL reported.RELATED: Post Office in Poway to be named after Pearl Harbor survivorSan Diego's oldest Pearl Harbor survivor recalls attack 78 years laterThe Japanese attack on the US on December 7, 1941, drew the country into World War II and changed global history.The other two remaining from the Arizona are unable to travel to Hawaii, KHNL said. Donald Stratton is 97 and Ken Potts is also nearing 100.Two Arizona survivors died in 2019: Lonnie Cook in July and Lauren Bruner in September.The commemoration starts Saturday at 7:50 a.m. local time on the Ceremonial Lawn at the Pearl Harbor Visitor Center. A moment of silence will be observed at 7:55, the exact time the attack began.The ceremony, scheduled to last less than 90 minutes, will also feature music by Navy's Pacific Fleet Band, a Hawaiian blessing, wreath presentations, a rifle salute by the Marine Corps, and a vintage aircraft flyover. Secretary of the Interior David Bernhardt is set to give a keynote address.The event is free and open to the public. Proceedings will be shown live on the Pearl Harbor National Monument social media accounts. 1559

(KGTV) — During Disney's Magical Christmas Parade special Christmas Day on ABC, fans got a sneak peek of the new rides and attractions coming to "Star Wars: Galaxy's Edge" in Disneyland and Disney World next year.The glimpse showed Star Wars fans embarking on an adventure aboard the Millennium Falcon, and marching alongside the First Order or with the Resistance."I hope that when people come to 'Star Wars: Galaxy's Edge' and experience it for the first time that this place they're walking through and the characters they're seeing and the beasts and aliens and droids puts them in a position where they give themselves over to the moment," Scott Trowbridge, creative executive at Walt Disney Imagineering, said. The video preview offers a look at riders in "Millennium Falcon: Smuggler's Run" and within a First Order vessel on "Rise of the Resistance," two attractions coming to the land. The minds behind the galactic land have long-promised they would try to immerse fans into the Star Wars galaxy for their ambitious park expansion.Disney recently revealed the two rides and that a special score from legendary composer John Williams was also in the works to the area.RELATED:With 'Star Wars' land opening, Disneyland will sell alcohol publicly for the first timeDisneyland's 'Star Wars' expansion gets an opening dateDisney reveals two new attractions coming to 'Star Wars' landThe Star Wars-themed land is set to open at Disneyland in Summer 2019 and Disney World in Fall 2019. 1496

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