Forever 21 has announced it will close all 354 of its U.S. stores after filing for Chapter 11 bankruptcy for the second time. The decision is attributed to rising overseas costs and fierce competition in the fast fashion sector, which has rendered the company’s business model unsustainable. The store closures will impact multiple locations in New York, with liquidation expected to be completed by May 1, 2025. Customers are advised to use their credit or gift cards by April 15, 2025, as no new gift cards will be issued, and returns or exchanges will no longer be accepted. While all U.S. stores will close, 21 Forever 21 locations outside the U.S. will remain open. The brand had previously filed for bankruptcy in 2019 and has seen a significant decline in its presence, alongside other national retailers facing financial difficulties.
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