It's not going to be forever for Forever 21 it seems as they prepare to file for Chapter 11 bankruptcy for the second time in five years. This will be preceded by the closure of 200 stores across the country, marking the beginning of the end for the staple of malls and high streets.
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The clothing brand has been struggling for some time now. It has not been able to stand up to companies like Shien or TEMU. Even stores such as Uniqlo and Zara have aided in the reduced sales of Forever 21.
The landscape of clothing retail has changed, and this once-popular store hasn't kept up. Rather than become a store known for a specific style or look, it has become inflated and diluted The pressures of fast fashion and online shopping spelled the end for Forever 21.
Due to a lack of personality, and drop in popularity, the store is shutting 200 locations around the US. This comes after a previous bankruptcy filing for the clothing brand and could be the nail in the coffin.
Time To Say Goodbye To Forever 21
Once the 200 stores have been closed, the brand will need to try and find a buyer. However, if this doesn't happen, it could be the end for the company. If no buyer is found, it is likely that Forever 21 will liquidate its entire stock.
But, the brand and intellectual property would still exist. As has been the case with a number of other brands, it will simply be leased out to other companies. This will, in essence, keep the brand alive, but not as we know it.
There are many high street stores and outlets around the US that have been broken by the pressure of online shopping. Forever 21 is another example of a business that hasn't adapted to changing retail practices. Speaking about the situation, CEO Jamie Salter said he failed to recognize the threat companies like Shein and TEMU posed to his company.
Despite new attitudes to imported goods encouraged by Donald Trump, fast fashion is here to stay. It's too easy, and too cheap.
