Forever 21's U.S. Operations Revived with New Partners
Forever 21's U.S. operations have faced another bankruptcy, the second since 2019. The company has now found new partners to run its U.S. business, marking the end of its brick-and-mortar era in the country.
Authentic Brands Group, which bought Forever 21 out of bankruptcy in 2020 for $81 million, has found new operators for the brand's U.S. business. Unique Brands, Mark Edwards Apparel, and Kidz Concepts will run various aspects of Forever 21's U.S. operations.
Unique Brands will oversee the U.S. e-commerce and men's wholesale, while Mark Edwards Apparel will handle women's wholesale. Kidz Concepts will be the U.S. partner for kidswear. These three entities will work together to operate the U.S. business, with no additional separate new operator identified.
Forever 21's U.S. operating company filed for Chapter 11 bankruptcy in March 2023, after failing to find a buyer. The company has been winding down its U.S. operations, but it continues to operate internationally.
Authentic Brands Group's CEO Jamie Salter has expressed regret over the acquisition of Forever 21. Despite the challenges, the brand's U.S. business will continue under the partnership of Unique Brands, Mark Edwards Apparel, and Kidz Concepts.
