Tears streamed down many girls’ eyes upon discovering that their beloved retailer’s legacy would most likely not live on to allow future generations to experience the same joy they once did.
This retailer rose to fame among girls and young women due to its wide range of trendy clothing at incredibly affordable prices.
From a simple weekend brunch outfit to many memorable homecoming dresses, it became the go-to shopping spot for all fashion necessities.
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Unfortunately, Forever 21 filed for Chapter 11 bankruptcy protection in 2019, which led it to close multiple stores. It was later acquired by Sparc Group, a joint venture between Authentic Brands Group, Simon Property Group (SPG) , Brookfield Asset Management, and Shein.
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However, this relief didn’t last long since the retailer filed for bankruptcy for the second time in March this year, citing growing competition from e-tail giants, rising costs, and economic challenges as the main reasons.
As a result, the retailer liquidated all its U.S. stores to prepare for closures but kept its e-commerce platform and international locations open while it finds a new buyer.
Forever 21 gives an unexpected update after bankruptcy.
Image source: Bloomberg/Getty
Forever 21 gives an unexpected update about its future
This second filing may have led many to believe Forever 21 was forever gone. However, the retailer shocked fans across the globe over the weekend by posting an unexpected update about the future of its business on its Instagram account.
“Forever 21 isn’t going anywhere and we are still committed to bringing you the styles you love. Right now, we’re evolving refreshing and building what’s next,” the company shared in the post.
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The retailer ended the statement with a hopeful message to all shoppers.
“We get that change can feel unexpected, but we’re excited for what’s ahead, and we’ll be sharing more with you soon. Thanks for sticking with us, you’re the heart of everything we do.”
Netizens react to Forever 21’s shocking social media post
Loyal fans and users quickly bombarded Forever 21’s Instagram comments section to express their reactions to the shocking update.
A loyal fan commented, “Thank God!! Tell me why I teared up when I thought you guys were gone. Your store was the epitome of my childhood. So many important events were spent at your store… from looking for high school dance dresses, to college formals, even dates and outings!”
Another user commented, “I love this brand. Please bring it back. You were the best.”
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However, some netizens weren’t as happy about the news, with many commenting on losing their jobs after the mass store closures.
A user commented, “Give me my job back then, or since you’re clearly making money, you can afford to pay us severance.”
One called out the retailer, commenting, “If you aren’t going anywhere, where did you go when you fired and let go a bunch of employees and closed stores? Are you coming back? No you aren’t.”
Another netizen proposed a lawsuit, commenting, “I think all ex-employees should file a class act. Maybe they’ll understand the ‘buzz’ then.”
A user had an opposing thought, commenting, “I know we put blame on companies… but how many times are we actually going into stores to make purchases? I do the same, but we gotta start shopping in stores so both employees can have jobs and stores stay open.”
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