Forever 21 expected to close all U.S. stores, blames Shein and Temu for demise [CNBC]
Simon Property Group, Inc. (SPG)
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Source: CNBC
The fast-fashion retailer has already started going out of business sales at more than 350 locations, but is still holding out hope a buyer could materialize and take over operations. The operating company's U.S. business is headed for outright liquidation, but the brand name will live on under its owner, Authentic Brands Group. Shoppers enter a Forever 21 fashion retail store at the King of Prussia mall in King of Prussia, Pennsylvania, U.S. September 30, 2019. Forever 21 filed for bankruptcy protection for the second time in six years on Sunday and blamed fast-fashion e-tailers Shein and Temu for its demise. The retailer's operating company is expected to cease all operations in the U.S. and has already begun liquidation sales at its more than 350 locations, but it's still open for bids if a buyer is willing to take on its inventory and keep running its stores, court filings show. Forever 21 has been seeking a buyer for several months and made contact with more than 200 p
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SPG
Earnings
- 2/4/25 - Beat
SPG
Sec Filings
- 4/30/25 - Form SCHEDULE
- 4/3/25 - Form 4
- 4/3/25 - Form 4
- SPG's page on the SEC website