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Fast 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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Bloomberg broke the news in United States on Tuesday, March 18, 2025.
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