Forever 21 Files For Bankruptcy

Source: NurPhoto / Getty

The end of mall culture is happening right before our very eyes because one of the more popular chains in the country — Forever 21 — filed for bankruptcy on Sunday.

The California-based company may close up to 178 stores in the United States according to court records.

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The company cited that the move was necessary in order to take “positive steps to reorganize the business so we can return to profitability.” The company is urging customers to understand that they aren’t going out of business and that those who do come into its stores will have a shopping experience that “will continue to feel like a normal day.”

Founded back in 1984, Forever 21 was a giant when it came to fast fashion and became a symbol of mall-based business with nearly 800 stores nationwide and a signature part of the mall experience in the late 90s and 2000s.

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