Struggling Forever 21 Plans to Close 200 Stores in Possible 2nd Bankruptcy

By Edward Smith

Published 4 months ago on

February 19, 2025

The struggling clothing retailer Forever 21 appears even closer to a second bankruptcy reports Bloomberg News, with plans to close 200 locations. (GV Wire Composite/Paul Marshall)

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The struggling clothing retailer Forever 21 appears even closer to a second bankruptcy reports Bloomberg News, with plans to close 200 locations.

News broke Tuesday that the Forever 21 location at Fashion Fair Mall would be among those closing.

The U.S.-based licensee of Forever 21 has been looking for a buyer for some time as sales for the company have lagged. Bloomberg reports part of the bankruptcy process includes the mass closure. The U.S. licensee operates as F21 OpCo.

But, if no qualified buyer emerges, the chain would liquidate its entire 350-store chain, Bloomberg reported.

Retailer Subsidizing Struggling Stores for Years: Bloomberg

The Fresno closing joined at least three other store closure announcements, with the others in Maryland and Connecticut. An employee at the Visalia Forever 21 said there had been no talk of the store at the Visalia Mall closing.

Bloomberg reported that many of the stores slated to close have lost money for years. The chain has subsidized those locations by withholding royalties and rent payments at other sites.

Apparel and lifestyle company Authentic Bands owns the Forever 21 trademark and intellectual property.

Read the full story at Bloomberg News.

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Edward Smith,

Multimedia Journalist

Edward Smith began reporting for GV Wire in May 2023. His reporting career began at Fresno City College, graduating with an associate degree in journalism. After leaving school he spent the next six years with The Business Journal, doing research for the publication as well as covering the restaurant industry. Soon after, he took on real estate and agriculture beats, winning multiple awards at the local, state and national level. You can contact Edward at 559-440-8372 or at Edward.Smith@gvwire.com.