Fast fashion retailer Forever 21 recently became one of the latest to file for bankruptcy amidst a decade-long "retail apocalypse," and once-iconic brands like Toys R Us, Gymboree, and Sears have become the haunting storefronts of the brick-and-mortar ghost town that the term conveys.

Starting over with a much smaller footprint, Forever 21 aims to recover and reposition. "This was an important and necessary step to secure the future of our company, which will enable us to reorganize our business and reposition Forever 21," said executive vice president Linda Chang, as reported by multiple sources.

As the company and many other retailers seek rebirth and perhaps even reinvention, one might wonder if the gloomy apocalyptic metaphor used to describe the state of the industry is apropos.