Posted on: March 17, 2025 06:39 PM

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Going out of business unless a new buyer is found for Forever 21

The clothing retailer, Forever 21 is expected to close all stores including Queens and the rest of NY if they don't find a new buyer from the bankruptcy filed late last night.

This is the second bankruptcy filed after 2019 when stores started closing including the one at the local mall on Queens Blvd in Elmhurst.

The company blames competition from Temu to Shein from China which are way more affordable.

"We have been unable to find a sustainable path forward, given competition from foreign fast fashion companies ... as well as rising costs, economic challenges impacting our core customers, and evolving consumer trends," Chief Financial Officer Brad Sell said in a statement.

Forever 21 was founded in the 2000s by Korean immigrants who have been struggling in the USA. International locations will not be affected.

March 30 is the last day for some of the stores in NY including the one in Queens at Atlas Mall.

The other locations are Times Square, Penn Station and two malls in Brooklyn and Staten Island.