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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…

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by Chris Spiker
Business
Multimillion-Dollar Makeover With New Stores, Dining, Outdoor Plaza At NY Mall Multimillion-Dollar Makeover With New Stores, Dining, Outdoor Plaza At NY Mall
Multimillion-Dollar Makeover With New Stores, Dining, Outdoor Plaza At NY Mall A Long Island mall will undergo a multimillion-dollar redevelopment with new retailers, restaurants, and a redesigned outdoor plaza. Smith Haven Mall is set for a major transformation, Simon Property Group said in a news release on Monday, Feb. 10. Work will begin at the Lake Grove shopping center in the summer. The project is expected to finish in 2026. "Whether you're one of our long-time shoppers or stopping by on your way out east, we eagerly await welcoming everyone to discover what's new at Smith Haven Mall," said mall general manager Mathew Boals. The redevelopment will i…

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by Chris Spiker
Business
Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator
Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator JCPenney is merging with a company that owns several other retailers that have also struggled as malls have declined in popularity across the US. The 123-year-old department store chain and SPARC Group have combined to form Catalyst Brands, the new company said in a news release on Wednesday, Jan. 8. SPARC Group is the operator of stores including Aéropostale, Brooks Brothers, Eddie Bauer, Forever 21, Lucky Brand, and Nautica. Former JCPenney CEO Marc Rosen will become the CEO of Catalyst Brands, which boasts more than $9 billion of revenue and about 60,000 employees at …

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by Chris Spiker