Hello ‘25, Goodbye 21

Forever 21 Files for Bankruptcy

Photo by Phillip Pessar / CC BY 2.0 / Cropped from original

The year 2025 opens with the end of an era for fast fashion. On March 15, the clothing store Forever 21 filed for Chapter 11 bankruptcy, marking a huge turning point for the popular retail business. Known for its affordable, trendy clothing aimed at teenagers and young adults, Forever 21 has been a popular shopping mall staple since its founding in 1984. However, in recent years, the rise of online shopping and fierce competition from online fast fashion giants, such as Shein and Temu, have made it increasingly difficult for Forever 21 to compete on a global scale. 

This is not the first time the business has filed for bankruptcy. Forever 21 made an attempt in 2019, but it was bought and saved by Authentic Brands. However, the last six years have not boded well for the company, and the 2025 Chapter 11 filing is expected to be carried out immediately through an orderly wind-down of all U.S. operations. Industry insiders predict that by May 1, all of the 359 stores in the United States will be closed permanently. While the future of the brand remains uncertain, Forever 21’s legacy will still be remembered as one of the most popular and well-known stores of the early 2000s.