Fashion retailer Forever 21 is collapsing, with all remaining US stores set to close unless a buyer acquires the company. The chain blames competition from foreign fast fashion companies like Temu and Shein for its demise. With $1.6 billion in debt, Forever 21 will “wind down” its operations nationwide if an investor doesn’t step forward.
Once a iconic destination for trendy clothing, Forever 21 filed for bankruptcy for the second time after struggling with changing consumer trends, online shopping, and skyrocketing inflation. The company’s assets are worth between $100 to $500 million. Its collapse is part of a growing list of store closures in 2025, with an estimated 15,000 stores expected to shut their doors by the end of the year.
Forever 21’s CEO, Brad Sell, stated that the chain was unable to find a sustainable path forward due to competition from foreign fast fashion companies. The company’s future in the US looks uncertain unless an investor comes forward to acquire it.
Source: https://wibx950.com/bankruptcy-and-closure-forever-21