Forever 21 Is Going Out of Business in the United States
Forever 21 isn’t even cool enough to exist anymore.
The retailer’s US operating company filed for bankruptcy Sunday — for the second time in six years — in a court in Delaware, citing fierce competition from foreign fast fashion retailers. It marks the end of an era for a clothing brand that introduced many teens to fast fashion.
The company said in a statement that its stores and website in the United States will remain open and continue serving customers for now, but it is implementing an “orderly wind-down” of its business in the country. It added that it would conduct liquidation sales at its stores and that it was seeking a buyer for some or all of its assets.
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