Latest news with #F21OpCo
Yahoo
12-05-2025
- Business
- Yahoo
Forever 21 completes Springfield store closure in U.S. shutdown
SPRINGFIELD, MO – Trendy clothing retailer Forever 21 is wrapping up its operations across the U.S. as part of its sudden bankruptcy just weeks ago. In recent days, the company completed the closure of its Battlefield Mall location. Customers will notice the signage is gone, the doors are locked, and paper covers the windows. Forever 21 filed for Chapter 11 bankruptcy in late March and announced it planned to close all of its 354 U.S. stores in early May. The retailer explained it had problems competing in the post-pandemic retail landscape. In an announcement to customers, Brad Sell, Chief Financial Officer of F21 OpCo, LLC, stated, ' After careful deliberation, we have made the decision to file for chapter 11 bankruptcy protection under chapter 11 of the U.S. Bankruptcy Code. We are deeply grateful for the support you have shown us over the years, but rising costs and increased competition from abroad have made our current business model unsustainable.' In recent weeks, signs went up outside the Battlefield Mall store announcing that the store was closing and clearance sales were underway to reduce inventory. Forever 21 was partly owned by the mall's owner, Simon Property Group. In 2019, Simon joined Authentic Brand Group to purchase Forever 21 in hopes of keeping it alive. The Springfield store closure creates a large vacancy for one of the larger spaces in the mall. Two other anchor locations in the mall are set to become empty later this summer when Dillard's moves its two separate (men's and women's) stores into a combined spot at the former Sears building. Battlefield Mall has said it will announce plans for those two storefronts sometime in the future. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
05-05-2025
- Business
- Yahoo
Forever 21 locations closed in Florida. Can you still use gift cards, get refunds?
Forever 21 is gone forever, at least in the United States. More than 350 Forever 21 locations, including all 23 in Florida, were scheduled to be closed by May 1, according to court documents, after the company filed for bankruptcy for a second time in six years. Many of them closed up as early as April 1. The fast-fashion clothing retailer has been struggling due to an increase in global competition and filed the first time in 2019. sold off stores and assets, briefly resurged in the last few years, and finally filed for Chapter 11 bankruptcy in March after laying off 700 employees earlier in the month, shuttering 236 stores and closing its headquarters. Forever 21's operator, F21 OpCo, previously said that if a buyer were to come forward with interest in the brand, store closures would pause. But as of the morning of Monday, May 5, a potential buyer had not been shared by the company. Forever 21's locations outside of the United States are operated by other licensees and are not included in the Chapter 11 filings. Here's what to know. According to the filing, all 354 leased locations in the U.S. had to be closed by May 1, 2025. Altamonte Springs: Altamonte Mall, 451 E. Altamonte Drive Suite 2113 Boca Raton: Town Center at Boca Raton 6000 West Glades Road, Space #1166E Brandon: Brandon Town Center, 566 Brandon Town Center Clearwater: Countryside, 27001 U.S Highway 19 N., Ste #2030 Doral: Miami International 1455 NW 107 Ave, Suite 560A Florida City: Florida Keys Outlet Market, 250 East Palm Drive Gainesville: The Oaks, 6419 Newberry Rd., Space #B16 Jensen Beach: Treasure Coast Square, 3080 NW Federal Highway Kissimmee: Osceola Crosslands 620 Center View Blvd. Miami Beach: 701 Lincoln Road Naples: Coastland, 1704 Tamiami Trail North, Ste A19 Orlando: Florida Mall 8001 S. Orange Blossom Trail The Mall at Millenia 4200 Conroy Rd Ste #206 Orlando Premium Outlets 8249 Vineland Ave., Unit 2201 Prime Outlets Int'l 4951 International Drive, Suite #1C06 Panama City Beach: Pier Park, 15575 Starfish St. Pembroke Pines: Pembroke Lakes Mall 11401 Pines Blvd. #576 Sarasota: University Town Center, FL 140 University Town Center Drive Suite 215 Sunrise: Sawgrass Mills 12801 W. Sunrise Blvd. Ste 555 Tallahassee: Governor's Square 1500 Apalachee Pkwy, Ste 1210 West Palm Beach: Palm Beach Outlets, 1795 Palm Beach Lakes Blvd. #W500 Wellington Green 10300 W. Forest Hill Blvd., Ste 191 Winter Garden: Winter Garden Village, 3049 Daniel Road Unit 220C Since 2022, when there were 32 Forever 21 locations in Florida, the company has already closed locations in Aventura, Destin, Jacksonville, Kendall, Lutz, Miami, Orlando, Palm Beach, South Miami, and Tampa, according to a comparison between current listings and an archived list. Forever 21 stopped accepting gift cards and store credit on April 15. Refunds and exchanges are also no longer available. In the filing in a Delaware court asking permission to close more locations, the company listed "inflationary pressures, decreased consumer discretionary spending, contracting margins, and shifting customer preferences" along with decreasing mall traffic and competition from overseas discount companies Temu and Shein as its reasons. Initially, Forever 21 announced in November 2024 that the company was closing 11 underperforming stores and then added seven more in December. "Certain non-U.S. online retailers that compete with the (F21 OpCo), such as Temu and Shein, have taken advantage of this exemption and, therefore, have been able to pass significant savings onto consumers," Stephen Coulombe, co-chief restructuring officer of F21 OpCo said in a court document upholding the filing. "Consequently, retailers that must pay duties and tariffs to purchase product for their stores and warehouses in the United States, such as the (F21 OpCo), have been undercut." This move comes as both Temu and Shein have been forced to raise their prices due to tariffs against China and the elimination of a previous exemption that allowed shipments under $800 to enter the U.S, duty-free. Mary Walrath-Holdridge, Jonathan Limehouse, USA TODAY contributed to this story. This article originally appeared on Tallahassee Democrat: Forever 21 closes all US locations. What about gift cards, refunds?
Yahoo
02-05-2025
- Business
- Yahoo
All US Forever 21 stores are set to close: Here's what shoppers should know
More than 350 Forever 21 stores are expected to be closed by the start of May, following the fast fashion company's Chapter 11 bankruptcy filing in March. All of Forever 21's 354 leased stores in the U.S. are to close by May 1, court documents obtained by USA TODAY state. Many began closing their doors as early as April 1. Forever 21's operator, F21 OpCo, previously said that if a buyer were to come forward with interest in the brand, store closures would pause. But as of the afternoon of Wednesday, April 30, a potential buyer had not been shared by the company. "Forever 21 is one of the most recognizable names in fast fashion. It is a global brand rooted in the U.S. with a strong future ahead," Jarrod Weber, global president for lifestyle at Authentic Brands, told USA TODAY in March. "Retail is changing, and like many brands, Forever 21 is adapting to create the right balance across stores, e-commerce and wholesale." Neither Forever 21 nor F21 OpCo immediately responded for comment about the store closures when contacted by USA TODAY on Wednesday afternoon. All of Forever 21's 354 stores in the U.S. are closing. However, a notice to customers on the Forever 21 website states that international stores will continue operating. Forever 21 stopped accepting gift cards and store credit on April 15. Refunds and exchanges are also no longer available. Forever 21 filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on March 16 due to "competition from foreign fast fashion companies," rising costs, economic challenges and evolving consumer trends, Brad Sell, F21 OpCo chief financial officer, said in a news release. The historic rise in inflation rates beginning in 2021 led to a significant increase in F21 OpCo's cost of operations, including the cost of inventory, distribution, transportation and employee wages, Stephen Coulombe, co-chief restructuring officer of F21 OpCo, said in a court document supporting the bankruptcy filing. A "highly competitive retail environment" is also hurting Forever 21, due to the de minimis exemption, which exempts goods valued under $800 from import duties and tariffs, according to Coulombe. "Certain non-U.S. online retailers that compete with the (F21 OpCo), such as Temu and Shein, have taken advantage of this exemption and, therefore, have been able to pass significant savings onto consumers," Coulombe said in the document. "Consequently, retailers that must pay duties and tariffs to purchase product for their stores and warehouses in the United States, such as the (F21 OpCo), have been undercut." Greta Cross is a national trending reporter at USA TODAY. Story idea? Email her at gcross@ This article originally appeared on USA TODAY: Forever 21 shutters all US stores: Here's what to know
Indianapolis Star
30-04-2025
- Business
- Indianapolis Star
All US Forever 21 stores are set to close: Here's what shoppers should know
"Retail is changing, and like many brands, Forever 21 is adapting to create the right balance across stores, e-commerce and wholesale," Jarrod Weber said. More than 350 Forever 21 stores are expected to be closed by the start of May, following the fast fashion company's Chapter 11 bankruptcy filing in March. All of Forever 21's 354 leased stores in the U.S. are to close by May 1, court documents obtained by USA TODAY state. Many began closing their doors as early as April 1. Forever 21's operator, F21 OpCo, previously said that if a buyer were to come forward with interest in the brand, store closures would pause. But as of the afternoon of Wednesday, April 30, a potential buyer had not been shared by the company. "Forever 21 is one of the most recognizable names in fast fashion. It is a global brand rooted in the U.S. with a strong future ahead," Jarrod Weber, global president for lifestyle at Authentic Brands, told USA TODAY in March. "Retail is changing, and like many brands, Forever 21 is adapting to create the right balance across stores, e-commerce and wholesale." Neither Forever 21 nor F21 OpCo immediately responded for comment about the store closures when contacted by USA TODAY on Wednesday afternoon. Which Forever 21 stores are closing? All of Forever 21's 354 stores in the U.S. are closing. However, a notice to customers on the Forever 21 website states that international stores will continue operating. Gift cards, store credit and refunds are no longer accepted Forever 21 stopped accepting gift cards and store credit on April 15. Refunds and exchanges are also no longer available. Why did Forever 21 file for bankruptcy? Forever 21 filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on March 16 due to "competition from foreign fast fashion companies," rising costs, economic challenges and evolving consumer trends, Brad Sell, F21 OpCo chief financial officer, said in a news release. The historic rise in inflation rates beginning in 2021 led to a significant increase in F21 OpCo's cost of operations, including the cost of inventory, distribution, transportation and employee wages, Stephen Coulombe, co-chief restructuring officer of F21 OpCo, said in a court document supporting the bankruptcy filing. A "highly competitive retail environment" is also hurting Forever 21, due to the de minimis exemption, which exempts goods valued under $800 from import duties and tariffs, according to Coulombe. "Certain non-U.S. online retailers that compete with the (F21 OpCo), such as Temu and Shein, have taken advantage of this exemption and, therefore, have been able to pass significant savings onto consumers," Coulombe said in the document. "Consequently, retailers that must pay duties and tariffs to purchase product for their stores and warehouses in the United States, such as the (F21 OpCo), have been undercut."
Yahoo
30-04-2025
- Business
- Yahoo
All US Forever 21 stores are set to close: Here's what shoppers should know
More than 350 Forever 21 stores are expected to be closed by the start of May, following the fast fashion company's Chapter 11 bankruptcy filing in March. All of Forever 21's 354 leased stores in the U.S. are to close by May 1, court documents obtained by USA TODAY state. Many began closing their doors as early as April 1. Forever 21's operator, F21 OpCo, previously said that if a buyer were to come forward with interest in the brand, store closures would pause. But as of the afternoon of Wednesday, April 30, a potential buyer had not been shared by the company. "Forever 21 is one of the most recognizable names in fast fashion. It is a global brand rooted in the U.S. with a strong future ahead," Jarrod Weber, global president for lifestyle at Authentic Brands, told USA TODAY in March. "Retail is changing, and like many brands, Forever 21 is adapting to create the right balance across stores, e-commerce and wholesale." Neither Forever 21 nor F21 OpCo immediately responded for comment about the store closures when contacted by USA TODAY on Wednesday afternoon. All of Forever 21's 354 stores in the U.S. are closing. However, a notice to customers on the Forever 21 website states that international stores will continue operating. Forever 21 stopped accepting gift cards and store credit on April 15. Refunds and exchanges are also no longer available. Forever 21 filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on March 16 due to "competition from foreign fast fashion companies," rising costs, economic challenges and evolving consumer trends, Brad Sell, F21 OpCo chief financial officer, said in a news release. The historic rise in inflation rates beginning in 2021 led to a significant increase in F21 OpCo's cost of operations, including the cost of inventory, distribution, transportation and employee wages, Stephen Coulombe, co-chief restructuring officer of F21 OpCo, said in a court document supporting the bankruptcy filing. A "highly competitive retail environment" is also hurting Forever 21, due to the de minimis exemption, which exempts goods valued under $800 from import duties and tariffs, according to Coulombe. "Certain non-U.S. online retailers that compete with the (F21 OpCo), such as Temu and Shein, have taken advantage of this exemption and, therefore, have been able to pass significant savings onto consumers," Coulombe said in the document. "Consequently, retailers that must pay duties and tariffs to purchase product for their stores and warehouses in the United States, such as the (F21 OpCo), have been undercut." Greta Cross is a national trending reporter at USA TODAY. Story idea? Email her at gcross@ This article originally appeared on USA TODAY: Forever 21 shutters all US stores: Here's what to know Sign in to access your portfolio
