All Forever 21 locations in Wisconsin are expected to close after the chain announced it is filing for bankruptcy and going out of business, making it the latest retailer in recent months to shutter operations nationwide.
Forever 21 said it was closing its headquarters in late February and laying off 350 employees, as it faced financial issues and struggled to compete with Chinese online fast-fashion brands, like Shein and Temu. About 200 of the chain’s roughly 350 stores were expected to close.
Owner F21 OpCo said it will hold liquidation sales at stores nationwide while also selling off most of its assets, according to a March 16 press release.
However, the national clothing chain may pivot from a “full wind down of operations” if it is able to find a buyer, the statement noted.
In the meantime, U.S. stores and the chain’s website will remain open throughout the liquidation process.
International stores will not be affected, the company confirmed.
It’s the chain’s second bankruptcy filing in less than a decade. Forever 21 first filed for bankruptcy in 2019, with the Milwaukee-area Bayshore location among numerous locations that closed as a result.
More: You can no longer use Joann’s Fabrics gift cards at Wisconsin stores or nationwide
How many Forever 21 locations are in Wisconsin?
There are two Forever 21 stores left in Wisconsin. One is in Wauwatosa’s Mayfair Mall and the other is in Grand Chute’s Fox River Mall.
Jonathan Limehouse and Claire Reid contributed to this report.
