Business

Forever 21 files for bankruptcy; 2 stores in Tarrant County are on the chopping block

Fashion retailer Forever 21 announced early this week that it would be filing for Chapter 11 bankruptcy. With that filing comes store closures.

Reuters reported that the company had listed 178 stores slated to shutter their doors, and nine of them are in Texas. The list of affected stores include the location at Tanger Outlet on 15829 North Freeway and the location at Glade Parks in Euless.

There isn’t an official timetable for when these locations will close yet, though it will likely be dependent on the lease agreements Forever 21 holds with its landlords.

Forever 21 became known for “fast fashion” — while runway looks tend to trickle down in commercial stores after months, if not years, Forever 21 was able to take trends and turn them into wearable clothes much more quickly, and at an affordable price point. However, the affordability came at the price of quality, meaning that clothes from Forever 21 degraded as quickly as it appeared on the racks.

The issue with quality is likely what has led to the company’s financial troubles. Today, its key market (teenagers and young women) have grown more environmentally conscious and are choosing to pay more for clothes that last longer or going to thrift stores instead.

Carla Jimenez covers breaking business news and commercial retail development. Born and raised in Euless, she took a detour in the Midwest for a few years, but she’s back in the land of football, barbecue and Dr Pepper.
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