Forever 21 plans more store closures, according to report

At least 200 more Forever 21 locations across the U.S. are expected to close, according to a report.

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It’s all part of the bankruptcy process filed earlier this week, according to a report by Bloomberg.

The retailer currently operates nearly 350 stores and is still looking for a buyer for its remaining stores. According to the report, Forever 21 would be forced to liquidate the remaining stores if a buyer is not found.

Under a partnership agreement made in August 2023, Chinese-founded Shein acquired about one-third interest in Sparc Group, Forever 21′s operator. Sparc also became a minority shareholder in Shein.

At the time, Forever 21 had more than 540 locations worldwide.