Thunderstorm in Vicinity Light Rain Fog/Mist 72°
Tag:

Liquidation

Business
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 is going out of business in the US after struggling against online rivals Shein and Temu, according to reports. Forever 21 filed for bankruptcy protection for the second time in six years and has already started liquidation sales at more than 350 stores, CNBC reported. Its US operations are expected to shut down entirely unless a buyer steps in. Sparc Group, Forever 21's operator, had been searching for a buyer for months and contacted more than 200 potential bidders. Court filings show that 30 parties signed confidentiality agreements, but no viable deal materialized. Talks wit…

SHARE

by Chris Spiker
Business
Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports
Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports Forever 21 may close at least 200 more stores and could shut down every location during a possible bankruptcy process, according to reports. Forever 21 is considering the closures and its US operator F21 OpCo. may declare bankruptcy as soon as March, Bloomberg News reported. This would be the fast-fashion chain's second bankruptcy filing in about six years. Unless a buyer acquires the remaining locations, the retailer could be forced to liquidate, shutting down its roughly 350 remaining stores. At its height, Forever 21 operated more than 500 US locations and at least 800 worldwid…

SHARE

by Chris Spiker
Business
Parsippany, Westwood Payless Stores To Shutter In March Parsippany, Westwood Payless Stores To Shutter In March
Parsippany, Westwood Payless Stores To Shutter In March Payless Shoesource will begin closing 2,600 stores in the U.S. and Puerto Rico this month after filing for bankruptcy in February. All of the source will be shuttered by late May. Below are the New Jersey stores to go in March. Atlantic City: Baltic Avenue Brick: Brick Boulevard Carteret: Roosevelt Avenue Freehold: Route 9 Jersey City: Mall Drive West Jersey City: Central Avenue Linden: West Edgar Road Parsippany: Route 46 Perth Amboy: Smith Street Plainfield: East Front Street Trenton: S Clinton Street Wall Township: Highway 35 #3 Westwood: Broadway Woodbridge: Woodbridge Center Drive Liq…

SHARE

by Cecilia Levine