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The retail sector has been beaten over the past two years. One of the brands of low and medium fashion to advanced luxury retailers, none of them was immune to shrinkage.
Several iconic brands applied for bankruptcy, and more financial distress that led to low -performance sites has been closed. Even the rich history stores, such as Mace’s, JCPENNEY, and Nordstrom were affected by changing consumer behavior and forcing them to close sites.
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The closure of retail 7,325 for 2024 is just the beginning. With some estimates, 15,000 stores will be closed in 2025, according to Coresight real estate datab company.
This law was issued before all the news of the customs tariff began in the market.
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Shopping centers have been hit very much
Some stores have had a presence in almost every American commercial center for decades: from the business of Victoria Secret and Bath & Body, to Claires and Building Bir, and even H & M to Forever 21.
But changing shopping habits has severely hit shopping centers. Fast fashion falls, well, outside the fashion, and more consumers now prefer to demand online and try their goods at home.
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Customers can also find more online choice than they can in stores. Many shoppers do not enjoy drilling through shelves to find the size or color they follow.
Forever 21 is just a victim of this trend. The retail dealer presented for the first time to bankruptcy of Chapter 11 in 2019 and closed 200 stores.
The company was presented again in March 2025. The company started closing the stores immediately and aims to close all sites by May 1.
“Forever 21 has always been retail stores that lived in borrowed time,” said retail analyst and administrative manager of the Globaldata Neil Sanders for real estate company. “In recent years, I have been exposed to the dual opposite winds of a weak clothing market and intense competition from cheap Chinese markets.”
Related: Another fast fashion retail trader suddenly closes after bankruptcy
Sonders said these facts ever eroded 21 of their situation and exhausted their share in the market. He added: “Forever did not help 21 through these challenges: The promotion and the squad was faded, and the brand was lacking in any clear view for a long time.” “The clear result is that more and more customers, especially customers at the younger end of the market, have abandoned it.”
The last opportunity to use the gift card forever 21
If you have a gift card for Forever 21 in your wallet or stuffed at the back of the kitchen staircase, use it as soon as possible.
“With regard to deposit, we start the closing of a number of stores throughout the United States,” Brad Cell, Financial Director, said in a statement on the company’s website.
“It is important that our stores remain open at the present time, and we will continue to meet the customs orders placed online,” said.
He added that the company “will continue to honor customer gift cards and store credit through April 15, 2025. The company says it will try to maintain the presence of online after that date, but all stores will be closed by May 1.
Forever currently has more than “540 sites worldwide and online”, according to its website, and has no plans to close its sites outside the United States
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