Forever 21 Is On the Verge of Bankruptcy

Forever 21 Is On the Verge of Bankruptcy

Not even a collab with Flamin' Hot Cheetos could save fast fashion.

Not even a collab with Flamin' Hot Cheetos could save fast fashion.

Text: Brooke Kushwaha

As fast fashion falls out of favor, Forever 21 has begun preparing for a potential bankruptcy filing, reports Bloomberg. Fast fashion has gone under the microscope the past few years for unjust labor practices and questions of environmental sustainability, and despite some recent unusual brand partnerships (USPS and Hot Cheetos?), Forever 21 appears to be no exception. The department store's sales have dropped an estimated 20-25% in the past year. 

Although the department store has been in talks for additional financing, filing bankruptcy would help the company cut down expenses and close unprofitable locations. However, Forever 21 has long been a mall juggernaut, and filling its location in malls would be a challenge to already-struggling shopping centers. 

Forever 21 has been in all of our hearts, fostering many millennial memories of shopping for dresses for the middle school dance, or purchasing your first mesh crop-top. The brand’s low prices and high turnover has aided the rise of trend-focused fashion, but with climate change prompting alternatives such as clothing rental or upcycling, young consumers simply aren’t buying. If you need us, we’ll be in the clearance section getting our last Flamin’ Hot Cheetos tube top while we can. 

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