Overview

• Forever 21's U.S. operator, F21 OpCo, filed for Chapter 11 bankruptcy in March 2025, citing rising costs, foreign competition, and shifting consumer preferences.
• All 354 U.S. Forever 21 stores have officially closed as of May 1, 2025, following April liquidation sales offering discounts of up to 60%.
• The company ceased accepting gift cards, store credits, refunds, and exchanges on April 15, 2025, as part of its wind-down process.
• Efforts to find a buyer to preserve U.S. operations were unsuccessful, with no offers emerging by the April 30 deadline.
• Forever 21's international stores remain operational under separate licensees managed by Authentic Brands Group, which retains ownership of the brand's intellectual property.