Forever 21 Faces Bankruptcy in US
Tuesday, 18 March, 2025139 words2 minutes
Forever 21, once a favorite fashion brand among young women worldwide, has filed for bankruptcy protection in the United States. This move could lead to the closure of its US operations.
The company stated that its US stores and website will remain open for now as it begins the process of winding down. They plan to hold liquidation sales and hope to sell some or all of their assets through a court-supervised process.
The brand has struggled to attract customers to its physical stores due to increasing competition from online retailers and rising costs. Forever 21's chief financial officer, Brad Sell, explained that they were unable to find a sustainable way forward given these challenges.
It's worth noting that Forever 21's operations outside the US, which are run by other license-holders, will not be affected by this bankruptcy filing.
