Name: Forever no more. Iconic American retailer to close its doors
Uploaded: 2025-03-18T13:13:01.000Z
Duration: 1 min 38 s
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For four decades, Forever 21 prided itself on cheap, trendy clothing.

But now, the American fast fashion giant announcing its filing for bankruptcy and liquidating its assets.

Honestly, I think it's gone kind of downhill.

The closures come with deep in-store discounts.

In its bankruptcy filing, the retailer blamed in part fierce competition from Chinese retailers Shein and Temu.

Which keep prices low with help from a trade exemption that allows them to skirt import taxes and tariffs.

Their clothes are at a way lower price than Forever 21.

So it made it extremely difficult for Forever 21 to operate.

Forever 21, founded in Los Angeles, survived a bankruptcy five years ago, restructuring and closing more than 100 stores.

Unable to find a buyer for the remaining 350 stores, this new bankruptcy is likely to be the end.

Store closures like ones at Forever 21 are happening at a time of concern for the US economy, and the US consumer accounts for about 70% of US economic activity.

February figures show a tiny uptick in consumer spending, up 0.2% for retail sales, but below a Dow Jones forecast for a 0.6% rise.

Forever 21 joins the likes of Party City and craft store Joanne as iconic retailers now going bust.

Me as a teenager, it really was like, let's go to Forever 21, but now I'm almost 30, so I'm like.