Forever 21 is closing several of its Las Vegas Valley stores following a recent bankruptcy filing on March 17. The stores at Meadows Mall and North Premium Outlets are set to close on Sunday, while the Galleria at Sunset location in Henderson will shut down on Friday. The Fashion Show mall store has not announced a closing date yet. All four locations are offering closing sales with discounts between 30% and 80%.
The company has been facing intense competition from online retailers like Temu and Shein, which offer similar low-cost fashion products. Additionally, rising costs and changing consumer trends have affected its ability to maintain operations. The company has indicated that it will wind down U.S. operations unless it finds a buyer.
This marks the second time Forever 21 has filed for bankruptcy, the first being in 2019. It managed to survive that period after being acquired by Authentic Brands Group. However, the current challenges have made it difficult for the company to find a sustainable path forward.