Mar. 13—Nothing lasts forever, not even Forever 21.
The fast-fashion retailer, founded in 1984 and headquartered in Los Angeles, is reportedly on its way to bankruptcy, according to multiple news outlets. And despite “everything must go” sales at New Mexico’s three stores, it’s unclear if doors are closing locally or not.
The retailer’s operating company, F21 OpCo LLC, owned by Authentic Brands Group, last month told news outlets it was exploring a potential sale.
“The efforts are ongoing and no final decisions have been made regarding the outcome of the process or the number of stores that may be closed,” the statement said.
There are two Forever 21 stores in Albuquerque, and one in Santa Fe. Store managers from all three locations told the Journal the stores have begun liquidation sales but have not heard whether or not they are closing.
Signs at Cottonwood Mall’s location read that everything in the store must go and that the entire store is subject to sales of 40% to 60% off the lowest ticketed price.
“All I know is that there are 200 to 300 stores across the nation closing,” said Kristin Gideon, manager at Coronado Mall’s Forever 21. “We were told all of the New Mexico stores are safe, but we’re hearing two different things. We’re hearing that we’re closing, and we’re hearing that we’re not closing. … We’re completely in the dark right now.”
An official list of stores closing has not been released, and Forever 21 did not respond to the Journal’s request for comment.
