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Forever 21 Files for Chapter 11 Bankruptcy

Plans call for the closure of 178 stores in the US and as many as 350 globally.

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LOS ANGELES—Embattled retailer Forever 21 has filed for Chapter 11 bankruptcy with plans to close up to 178 stores in the US and as many as 350 outlets globally. As part of its restructuring, the retailer will to exit most of its international locations in Asia and Europe, but will continue operations in Mexico and Latin America.

“This was an important and necessary step to secure the future of our company, which will enable us to reorganize our business and reposition Forever 21,” Linda Chang, executive vice president of Forever 21, said in prepared remarks.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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