CONFIRMED: Forever 21 Declares Bankruptcy Again; Closing All U.S. Stores

A brand you may have grown up with and loved is going out of business, according to CNN and many other news outlets.

Forever 21 has declared bankruptcy again

As expected, Forever 21 filed for Chapter 11 Bankruptcy Sunday (March 16, 2025).

This isn't the first time either. The once mega-popular, trendy fashion retailer filed once before, six years ago (2019), and closed 200 underperforming stores at that time.

Last month, I reported the company was shuttering some of its stores in our area, and beyond (Quaker Bridge Mall and Oxford Valley Mall), in hopes of not having to declare bankruptcy, but it appears as if it's the end of an era.

It doesn't sound like the remaining stores will be shut down immediately.

All U.S. Forever 21 stores will be closing

The company issued a statement reassuring loyal customers that stores and its website would stay open for now and they're working on a plan for an "orderly wind-down" of its business in the United States.

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The company is actively looking for a buyer for some, if not all of its assets, according to the CNN article.

There will be closing sales

There will be going-out-of-business sales, so keep checking your local store for discounts.

Forever 21's Chief Financial Officer, Brad Sell, said in a statement, "We have been unable to find a sustainable path forward, given the competition from foreign fast fashion companies...as well as rising costs, economic challenges impacting our core customers, and evolving consumer trends."

Sigh.

It certainly will be an odd sight not having Forever 21 in our local malls.

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I hope those spaces don't stay empty for long, although, so many retailers are struggling these days, we'll see what happens.

To read more on Forever 21's recent filing and future, click here.