US EditionFast fashion giant files for bankruptcy, plans to shut down U.S. stores
- Forever 21's operator, F21 OpCo, plans to vacate 354 locations by the end of April following its Chapter 11 bankruptcy filing.
- Court documents indicate that store closing sales are expected to conclude before May 1, with many stores closing before April 1.
- F21 OpCo's bankruptcy was attributed to competition, rising operational costs, and changing consumer trends, according to Stephen Coulombe, co-chief restructuring officer.
- If a buyer for its assets is found, F21 OpCo may halt the closing process, according to a spokesperson's comments following the bankruptcy filing.
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Forever 21 Files For Chapter 11 Bankruptcy Protection - Valuetainment
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List: When the 14 Chicagoland Forever 21 stores will close for good
CHICAGO (WGN) — Popular fast fashion brand Forever 21 earlier this week announced it had begun "winding down" its US operations as it navigates bankruptcy for the second time in nearly six years. All locations have begun going-out-of-business sales and, along with its website, normal operations and sales will continue. Below is a list of the Chicagoland locations that will close and the date of their planned closure: Gurnee Mills at 6170 W. Gra…
Major Retailers Plan to Close Stores in Northern Virginia
Forever 21’s parent company, F21 OpCo, recently said in a release that it plans to close its U.S. stores. The news comes after the clothing and accessories retailer filed for bankruptcy protection for a second time. However, if the company can find a potential buyer for its assets, it may stay open. In a statement, Brad Sell, the company’s chief financial officer, said Forever 21 could not compete with the low prices offered by online retailers …
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