Forever21 will soon be no more. After filing Chapter 11 bankruptcy in March, the company said that all of its stores in the U.S. will be closed as of May 1. This was confirmed in court documents obtained by USA Today.
The company was hoping that it would find a buyer to revive the brand, but that never happened.
"Forever 21 is one of the most recognizable names in fast fashion. It is a global brand rooted in the U.S. with a strong future ahead," Jarrod Weber, global president for lifestyle at Authentic Brands, told USA Today earlier this year. "Retail is changing, and like many brands, Forever 21 is adapting to create the right balance across stores, e-commerce and wholesale."
As for what caused the demise of Forever21, CEO Mike Appel blamed competition from online discount retailers like Shein and Temu, according to Forbes. Appel also highlighted companies like Zara, Abercrombie & Fitch, and America Eagle Outfitters saying that "great merchandising" can still be successful in such a competitive market.
Shoppers reacted to the news about Forever21 on Reddit.
"The end of an era omg, this store has so many memories for me. Running out to grab a going out dress was always at F21," one person wrote.
"Gosh, it felt like the busiest store in the mall in the early 2010s. RIP," someone else added.
According to the store locator tool on the Forever21 website, the company operated 356 brick and mortar locations in 43 states and Puerto Rico. It's unclear what will happen to any other international retail locations.
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