• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Business & Finance

Mall retailer in bankruptcy can’t find buyer, shares closing plan todayheadline

April 15, 2025
in Business & Finance
Reading Time: 3 mins read
A A
0
Beloved retail chain bankruptcy, liquidation drives major change
4
SHARES
8
VIEWS
Share on FacebookShare on Twitter


When a retail chain dies, it tends to be a slow, drawn-out affair.

You almost never see a chain die quickly. Instead, it happens in stages that often end in a dramatic death scene where a last-minute recovery still seems possible.

Related: Key toilet paper brand files Chapter 11 bankruptcy

The last few weeks for a retail chain that’s going out of business often seem like the final minutes in the life of Anakin Skywalker/Darth Vader.

In that scene, Luke, his recently-discovered son, drags the Sith lord toward a shuttle after Vader had saved the young Jedi from Emperor Palpatine’s Force Lightning. They don’t quite make it, but the dying bad guy has time for a little more drama on the ramp of the shuttle.

He asks Luke to remove his helmet so he can look upon his son with his own eyes. Luke points out that doing that will kill him, Vader says it’s inevitable, and Star Wars fans get the long-awaited Darth Vader without his helmet shot.

💵💰Don’t miss the move: Subscribe to TheStreet’s free daily newsletter💰💵

Yes, the fact that he looks like a neon-white Humpty Dumpty saps some of the emotion, but for a science fiction film, it was a very dramatic moment.

Another such moment is the death of Forever 21. It may not impact the balance of good and evil in the universe, although it will significantly impact the supply of T-shirts with sassy slogans on them.

Forever 21 stores are already being liquidated.

Image source: Bloomberg/Getty

Forever 21 nears the end (maybe) 

For a few months, Forever 21 did the “will they/won’t they” file bankruptcy dance before finally filing on March 16. At the time of the filing, the company shared that it planned to wind down operations at its U.S. stores.

“Wind down” wasn’t just being used because it sounds nicer than “liquidate.” The owners, F21 Opco, retained hope that a buyer might emerge. The company has reached a Plan Support Agreement (PSA) with its lenders that will determine the chain’s next steps.

That was explained in a press release:

The PSA is designed to enable the company to move through the Chapter 11 process as quickly and efficiently as possible. Through the PSA and the Chapter 11 proceedings, the company will conduct liquidation sales at its stores while simultaneously conducting a court‑supervised sale and marketing process for some or all of its assets.

Company also will file a motion with the court seeking authority to market F21 OpCo’s assets through an auction pursuant to section 363 of the Bankruptcy Code. In the event of a successful sale, the company may pivot away from a full wind down of operations to facilitate a going-concern transaction. The company believes this dual-path process will best maximize optionality and value.

Basically, the owners have to shut the chain down but remain hopeful that a buyer will step in.

It’s now a month later, and no buyer has publicly stepped up. That means there are some dates fans of the retail chain need to know.

Forever 21 fans need to know these dates

Once Forever 21 began its going-out-of-business sales, all sales, both in U.S. stores and on its U.S. website, became final. 

“Accordingly, we will no longer be accepting returns or exchanges. Additionally, at this point, we are no longer offering new gift cards or credit cards,” the chain shared.

If you have a gift card, you’re running out of time to use it. April 15 is the last day gift card will be accepted by Forever 21.

The company shared in a court filing that it expects to vacate roughly 354 leased stores by the end of April.

Related: Huge burger chain franchisee files for Chapter 11 bankruptcy

No public statement has been made on specific store closing dates. Instead, Forever 21 has directed customers to two different locations:

“For the most up-to-date information, please visit our store locator, and you can also find your favorite merchandise at www.forever21.com,” it shared.

The chain’s bankruptcy and liquidation (or “wind-down”) process only impacts its U.S. operations. Forever 21 stores outside of the U.S. will continue to operate business as usual.

Tags: bankruptcybuyerclosingfindmallplanretailersharestodayheadline
Previous Post

UAW members at General Dynamics' electric boat unit authorize strike todayheadline

Next Post

Slow CWC ticket sales don’t worry FIFA’s Infantino

Related Posts

China commerce minister urges Sri Lanka to wrap up free trade deal todayheadline

June 1, 2025
3
China accuses US's Hegseth of 'vilifying' remarks at security forum

China accuses US's Hegseth of 'vilifying' remarks at security forum todayheadline

June 1, 2025
3
Next Post
Slow CWC ticket sales don't worry FIFA's Infantino

Slow CWC ticket sales don't worry FIFA's Infantino

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0

China commerce minister urges Sri Lanka to wrap up free trade deal todayheadline

June 1, 2025
June 2025: What’s in the sky this month? Titan’s shadow transits Saturn, and Mercury meets with Jupiter in the evening

June 2025: What’s in the sky this month? Titan’s shadow transits Saturn, and Mercury meets with Jupiter in the evening

June 1, 2025
Judge strikes down New York law intended to protect minority groups' voting power

Poles begin voting for a new president in a pivotal runoff election

June 1, 2025
Marcos suspends EDSA rehab | The Manila Times

Marcos suspends EDSA rehab | The Manila Times

June 1, 2025

Recent News

China commerce minister urges Sri Lanka to wrap up free trade deal todayheadline

June 1, 2025
3
June 2025: What’s in the sky this month? Titan’s shadow transits Saturn, and Mercury meets with Jupiter in the evening

June 2025: What’s in the sky this month? Titan’s shadow transits Saturn, and Mercury meets with Jupiter in the evening

June 1, 2025
4
Judge strikes down New York law intended to protect minority groups' voting power

Poles begin voting for a new president in a pivotal runoff election

June 1, 2025
5
Marcos suspends EDSA rehab | The Manila Times

Marcos suspends EDSA rehab | The Manila Times

June 1, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

China commerce minister urges Sri Lanka to wrap up free trade deal todayheadline

June 1, 2025
June 2025: What’s in the sky this month? Titan’s shadow transits Saturn, and Mercury meets with Jupiter in the evening

June 2025: What’s in the sky this month? Titan’s shadow transits Saturn, and Mercury meets with Jupiter in the evening

June 1, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co