Forever 21 planning liquidation sales at these NC and SC stores
Forever 21 first filed for bankruptcy protection in 2019.
CHARLOTTE, N.C. — Turns out it’s not forever after all for this mall staple clothing store.
Forever 21 has filed for bankruptcy protection for a second time, and will hold liquidation sales at stores across the United States as a result.
F21 OpCo, which runs Forever 21 stores, said Sunday it will wind down the business in the U.S. under Chapter 11 bankruptcy protection while determining if it can continue as a business with a partner, or if it will sell some or all of its assets. In addition to the liquidation sales, the website will continue to run while operations wind down.
Forever 21 first filed for bankruptcy protection in 2019. It was acquired by a consortium of parties including Authentic Brands Group and mall owners Simon Property Group and Brookfield Property Partners.
Forever 21 was founded in 1984 and, along with other fast-fashion chains like H&M and Zara, rode a wave of popularity among young customers in the mid-1990s. Their popularity grew during the Great Recession, when shoppers were seeking bargains. But Forever 21 went on an aggressive expansion just as shoppers were moving more online.
With increased competition from fast fashion companies like Shein and Temu and declining mall traffic, the company couldn’t keep up.
There are 13 stores across the Carolinas that will have liquidation sales.
- Carolina Place in Pineville
- Crabtree Valley Mall in Raleigh
- Cross Creek Mall in Fayetteville
- Jacksonville Mall in Jacksonville
- Concord Mills in Concord
- Streets at Southpoint in Durham
- Four Seasons Town Centre in Greensboro
- Hanes Mall in Winston-Salem
- Northlake Mall in Charlotte
- Independence Mall in Wilmington
- Haywood Mall in Greenville
- Columbiana Centre in Columbia
- Tanger Outlets Myrtle Beach in Myrtle Beach
The Associated Press contributed to this report.