Forever 21 Reportedly Preparing for Bankruptcy and Potential Store Closures

The fast-fashion retailer is said to be considering closing most or all of its locations as it transitions to an online-focused business model.

Forever 21 is reportedly preparing to file for bankruptcy in the coming days, with plans to close at least 200 of its 350 remaining U.S. stores.
Sources indicate the company has struggled to find a buyer for its assets, raising the likelihood of liquidation and widespread closures.
The retailer, once operating over 800 stores globally, has faced challenges from rapid overexpansion, competition from online retailers, and shifting consumer trends.
Forever 21's operator, F21 OpCo LLC, is owned by Catalyst Brands, a joint venture of Authentic Brands, Simon Property Group, Brookfield Properties, and Shein.
The company previously filed for bankruptcy in 2019 and was acquired by its current owners in 2020, but ongoing financial struggles have persisted.