Teen retailer Abercrombie & Fitch has been put up for sale, after a report from Reuters disclosed that the company had hired investment bank to assess takeover interest. Its value has dropped significantly in the 16 months, down by 61% since after reaching a 16-month high in March 2016. The company is not the only American retailer that has found difficulty in the past few years, with other competitors such as Sears, JC Penny and Macy’s also facing store closures.