Fast Fashion Retailer Forever 21 Files for Bankruptcy

Articles

Summary

Forever 21 is closing its headquarters, laying off employees ahead of rumored bankruptcy

Parent company Liberated Brands blamed fast fashion and e-commerce moving too quickly to sustain its outdated brick-and-mortar stores in bankruptcy filings.

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Los Angeles Times

Forever 21 Declares 2nd Bankruptcy In Just 6 Years; Authentic Brands CEO Hints ‘The Biggest Mistake’ – Report

In 2019, Forever 21 filed for Chapter 11 and was acquired from bankruptcy by Sparc, a collaboration between Authentic Brands Group and mall operators Simon Property Brookfield Asset Management Inc.

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TimesNow

Forever 21 poised to shutter all stores ahead of bankruptcy filing: report

With 350 locations, the fast-fashion brand is owned by licensing firm Authentic Brands Group, while the stores, e-commerce and manufacturing operations are run by an entity called F21 OpCo.

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New York Post

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News Results

Forever 21 likely to shutter remaining stores with second bankruptcy nearing

Forever 21 is on the brink of filing for bankruptcy protection for the second time. The fast fashion retailer is expected to shutter all of its stores as a result. A liquidation would have a significant impact, not only on the company's workforce, but also on shopping malls.

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4m ago

Forever 21 Weighs Closing All Stores as Bankruptcy Looms

The brand could shutter its roughly 350 storefronts as part of its second bankruptcy in six years. It last filed Chapter 11 in late 2019, driven at the time by over-expansion and the meteoric rise of e-commerce. The bankruptcy filing would be the Los Angeles-based fast-fashion brand’s second in roughly 6 years.

MIDDLE

3m ago

Forever 21 weighs closing all stores ahead of bankruptcy

The California-based operator of retailer Forever 21 is preparing to potentially close down its stores as part of a bankruptcy filing in the coming days. Efforts to find a buyer for the fast-fashion retailer to avoid a liquidation have so far failed. Talks with one potential bidder are ongoing, they said.

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4m ago

Struggling Forever 21 preparing to close 200 stores as second bankruptcy looms

Forever 21's US-based operator is preparing to shut down 200 or more stores as part of a second bankruptcy process that could start as early as March. The company would also seek a potential buyer for the remaining Forever 21 stores, liquidating the estimated 350 locations if a suitable buyer does not step forward.

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4m ago

Forever 21 Is Closing More Stores as Reports of Bankruptcy Bubble Up

The fast fashion brand is set to close as many as 200 stores as rumors that the company may file for bankruptcy swirl. Local outlets in New York, California, Pennsylvania, Connecticut and Washington have confirmed multiple stores in their states are set to be closed. Worker Adjustment and Retraining Notification (WARN) notices have been filed in California and Pennsylvania indicating mass layoffs will be affecting employees.

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5m ago

Forever 21 files for bankruptcy — set to close all U.S. locations

Fast fashion brand Forever 21 files for bankruptcy for the second time in nearly six years. The retailer has begun “winding down” its U.S. operations. All locations have already begun going-out-of-business sales. Gift cards will continue to be honored up until April 15, 2025.

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5m ago

Fast-fashion retailer Forever 21 files for bankruptcy as financial liabilities loom

Fast-fashion retailer Forever 21 filed for bankruptcy under Chapter 11 in Delaware, United States, after financial liabilities rose. The company has a total liability of $1 to $10 billion, while assets are only in the range of $100 to $500 million, as per the filings. As per an earlier report, the brand was considering other options to turn around its business operations in February 2025.

MIDDLE

5m ago

Fashion brand Forever 21's operator files for bankruptcy

The company filed for Chapter 11 bankruptcy in Delaware, court documents show. It listed assets of $100 million to $500 million and liabilities of $1 billion to $10 billion in its petition. Popular teen-focused fashion label had an earlier stint with bankruptcy in 2019. The brand has more than 540 locations globally, according to its website.

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5m ago

Fans fume as store 'trashed' by customers after brand shut 200 locations

The fast fashion chain is closing 200 of its stores across the U.S. The company has been struggling to make ends meet in recent years. The stores are closing because of poor sales and competition from other brands. The store is located in Fayetteville, Kentucky, a suburb of Lexington.

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5m ago

Fast fashion retailer blames foreign rivals as it files for bankruptcy

Forever 21 will conduct a liquidation sale at its 350 stores in the US. The brand's UK and other overseas businesses, which operate under different licences, will be unaffected by the move. Chief financial officer Brad Sell said Forever 21 had been 'unable to find a sustainable path forward'

MIDDLE

5m ago

Forever 21 files for bankruptcy in the US again

Forever 21 has filed for bankruptcy for the second time in six years. The company says it will conduct liquidation sales at its U.S. stores and websites. It cites competition from foreign fast fashion brands as the reason for its decision. The bankruptcy filing is expected to be finalized in the coming days.

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5m ago

Forever 21 files for bankruptcy in the US

Forever 21 files for bankruptcy protection in the US. Firm says it will conduct liquidation sales at its stores. Some or all of its assets will be sold in a court-supervised process. Company has struggled to attract customers due to rising prices and online shopping.

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5m ago