Forever 21 retail stores are set to close permanently in the U.S. as they file for bankruptcy for the second time. The first time was in the mist of COVID-19 but was then bought out by Authentic Brands. 

Forever 21 revealed that cheap fast-fashion (like Shein/TEMU) and the constant consumer trends evolving were to blame for the store’s shut down. Luckily, if you are a Forever 21 fan the online store will still be available. 

The stores will remain open for the remaining time they have while slowly closing to try and get any bidders for the assets, but it seems very unlikely that will happen. 

The retail sales really struggled this past year, only rising 0.2% last month. The hiring has also been at a stand still.

Forever 21 was originally founded by Korean immigrants in 1984. The store had a prime time in 2015 with sales hitting $4 billion. This carried through the remainder of the 2010’s due to them always keeping up with fashion trends. 

According to NBC News, since the retail store was sold to the company Authentic, the CEO has called the purchase “probably the biggest mistake I made.”

It is really shocking to see the downfall of Forever 21 since I always remembered it being a trendy store to purchase clothes from. Their prices, on the other hand though were a bit overpriced for the quality of the clothing. 

I didn’t even know they were closing till I walked past the store in the mall. There were “on sale” signs plastered all over the store. Beware though because they are not accepting returns. Also, when I walked into the store most of the upstairs level was completely empty. 

I am interested in what will happen next for Forever 21 as stores slowly shut down.