Find in the news:
BY COUNTRY

Forever 21 Brand is Close to Bankruptcy



American fashion retailer Forever 21 is preparing to file for bankruptcy.
Forever 21

The company expects that this will help close the stores in inefficient locations, as well as to restructure the business. According to expert estimates, last year, the brand's sales decreased by 20-25%. 

Last week shareholders engaged consultants to restructure their debt obligations and revise their portfolio, which includes 815 stores located in the U.S. and Canada, Europe, and Asia. Earlier, Forever 21 held a series of negotiations to provide additional financing, but no suitable options were found. Experts agree that bankruptcy is the most likely scenario for the retailer's business. The brand was founded in 1984 by South Korean nationals Jin Suk and Doe Won Chang. As a result of the crisis in the U.S. retail market in 2019, the pair lost almost half of its fortune, which fell to $1.6 billion. 

Analysts note that Forever 21 is one of the leading tenants of shopping and entertainment centers across the country. In the event of bankruptcy and mass closure of stores, American malls, which experienced problems with filling and attracting traffic, maybe hit even harder. In 2019 alone, U.S. retailers announced the closing of a total of more than 8,000 stores. 

In early 2019, the Payless shoe chain announced the bankruptcy and closure of all 2,500 retail stores. The fast-fashion brands like Wet Seal, American Apparel and Delia's, as well as the Aeropostale, which has retained some of its stores, are among the brands that went bankrupt in the last five years. As for Forever 21, in recent years, it has been one of the fastest-growing brands in the youth fashion market. As early as 2016, the network was actively developing despite the problems of the main competitors in the market. But the brand began to reduce its space in the U.S. market and to close international stores unnoticed.

More about shopping malls in the USA



TODAY, Finland:
Havaianas has launched a captivating 149-square-metre pop-up store on 33 avenue des Champs-Élysées in Paris.
YESTERDAY, France:
A Brazilian cash-and-carry concept known for competitive pricing and volume discounts.
Jun 21, 2024, USA:
The first Netflix Houses are scheduled to debut in Dallas and Philadelphia.
Jun 21, 2024, France:
The Chalk store concept reinforces Calvin Klein’s modern, minimalist and sensual design.
Jun 20, 2024, France:
Nicolas Houzé, CEO of Galeries Lafayette, has outlined ambitious growth plans for 2024.
Jun 19, 2024, France:
Mango’s growth strategy also encompasses 15 new boutiques in Italy this year.
Friend
and Follow
Westfield Santa Anita ADDRESS: 400 S. Baldwin Ave. Arcadia, CA 91007
USA . Arcadia
Westfield Santa Anita
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet
AEON MALL Okinawa Rycom GLA:839 585 SF
ADDRESS: 901-2300 Tochi-kukaku seirichinai Awase, Kitanakagusuku Village, Nakagami District, Okinawa
Japan . Ginowan
AEON MALL Okinawa Rycom
Shopping City Süd GLA:1 862 156 SF
ADDRESS: Europaring 2334 Vösendorf
Austria . Vienna
Shopping City Süd


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us