Once-Popular Clothing Store Plans to Close Four Michigan Stores
As retailers across the United States are struggling to stay afloat, a once-popular mall staple is said to be closing four of its nine Michigan stores.
Forever 21 has begun liquidating its inventory at stores across the country, as rumors of a second bankruptcy filing loom large.
Forever 21 Bankruptcy
Forever 21 filed for bankruptcy in 2019, but proceedings were halted when the chain was acquired by a retail consortium in 2020. In February, multiple media outlets reported that the company is in talks with investors and could once again begin the bankruptcy process again this month.
More than 200 Forever 21 stores across the US have begun liquidation sales, indicating that store closures could be imminent.
Forever 21 in Michigan
The retailer currently has about 350 stores across the US, with nine locations remaining in Michigan according to its website. Newsweek reports that at its peak, Forever 21 had about 800 stores worldwide.
What's the Future of Forever 21?
According to Pennsylvania's WJET-TV, the company is seeking a buyer to acquire its remaining stores. Sources with knowledge of the company say that if no buyer emerges, the company will consider liquidating all of its 350 or so stores.
Liquidation Sales Beginning in Michigan Stores
The TV outlet also reports that liquidation sales have begun at more than 200 stores across the US, as the threat of a second bankruptcy continues to plague the chain.
Four of Michigan's nine Forever 21 stores are said to be holding liquidation sales:
- Great Lakes Crossing, 4160 Baldwin Road Space #426, Auburn Hills, MI
- Briarwood, 602 Briarwood Circle, D101A, Ann Arbor, MI
- Woodland Mall, 3195 28th St. SE, Grand Rapids, MI
- Partridge Creek, 17360 Hall Road #191, Clinton Township, MI
Liquidation sales do not necessarily guarantee store closures, but the future of the once-popular retailer is uncertain.