Yet another retailer is ramping up “going out of business” sales at all of its U.S. stores. Forever 21, a clothing retailer, filed for bankruptcy protection in mid-March.
The liquidation sales are happening both in-store, at Forever 21's U.S. locations and online. Hilco Consumer-Retail is managing these sales in a joint venture with Gordon Brothers and SB360.
The company, which also encountered financial trouble in 2019, attributes its latest woes to competition from online fast fashion companies like Shein and Temu. The company said all inventory in its stores is significantly discounted, and shoppers will find savings of up to 60% off the lowest marked prices.
"Stores are fully stocked, and fresh inventory is continuously being added at incredible discounts," said Ian Fredericks, CEO of Hilco Consumer-Retail,” in a statement. "Customers should shop early for the best selection—once items are sold out, they're gone!"
Forever 21 said that, in addition to 60% discounts, store fixtures and equipment are available for purchase. Gift cards will be accepted through April 15, 2025. All sales are final for purchases made on or after February 24, 2025. Purchases made prior to that date may be eligible for returns.
While Forever 21 is allowing shoppers to buy online, consumers should be very careful not to click on scam websites that appear to be the official Forever 21 site. When it began liquidation sales in February, JoAnn Fabrics had to end online purchases because there were so many imposter websites that victimized shoppers.
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