Forever 21 has filed for bankruptcy protection, its second time in 6 years. The fast fashion retailer will begin winding down operations including the closure of all their retail locations; including all 10 stores in Massachusetts.
F21 OpCo, the operating company for the brand, has 350 locations across the United States; store closing sales are expected to begin at all locations in the coming days. The brand is still seeking a buyer for some or all of its assets including the store's profitable leases. The company has faced fierce competition from online retailers like Shein and Temu in the fast fashion world. Forever 21 operates MA stores in: -Holyoke at Holyoke Mall at Ingleside -Peabody at Northshore Mall -Burlington at Burlington Mall -Auburn at Auburn Mall -Natick at Natick Mall -Braintree at South Shore Plaza -Marlborough at Solomon Pond Mall -North Attleboro at Emerald Square -Saugus at Square One Mall -Hyannis at Cape Cod Mall An important side note, the operating company for Forever 21 does not own the name or intellectual property for the brand. F21 OpCo is owned by Catalyst Brands, owner of JCPenney; Catalyst Brand is NOT affected by this bankruptcy filing. The brand itself is owned by Authentic Brands Group; and licensed to F21 OpCo for use at the stores. Read more about the bankruptcy here: businesswire.com/news/home/20250316125020/en/F21-OpCo-LLC-Initiates-Voluntary-Chapter-11-Process-With-Support-of-Its-Lenders?fbclid=IwY2xjawJE-MlleHRuA2FlbQIxMAABHfBbjZL_eXdIH4biK8GGXPsSsMb0pGLSdR21v42iolUG8hYgEMLUbEVTrg_aem_pdKCbyyGmiPh0oqJjKmQ1w
0 Comments
Leave a Reply. |
Towns |
Company |
|