NOT FOREVER
Forever 21 shoppers have just hours left to use gift cards ahead of mass store closures
Shoppers have hours left or lose their savings forever at Forever 21
FOREVER 21 shoppers have only hours left to use their gift cards ahead of the company's mass store closures.
The US chain is officially shutting down all of its locations in the country, so shoppers need to act fast.
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The US Sun reported on the massive 40% closing down sales at Forever 21 right now.
As layoffs are scheduled for April 21, another key milestone has arrived for shoppers.
News Break reports that gift cards and store credit will no longer be accepted at Forever 21 after Tuesday, April 15.
After that date, the remaining balance will be gone for good.
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This means that shoppers will lose their chance to save even more cash in the sales if they don't act right now.
A spokesperson for Forever 21 confirmed the move: "We will continue to honor customer gift cards and store credit through and including April 15."
This is an expected step as Forever 21 gets ready to close 200 of its locations across the US.
This will include its main headquarters and will see 700 Americans lose jobs.
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A spokesperson told USA Today: "This decision was not made lightly.
"And we remain committed to transparency and fair treatment of our employees during this period of transition."
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FOREVER DOESN'T MEAN FOREVER
This massive blow to the company has left in a state of uncertainty going forward.
Exact plans are still up in the air as the company continues to work towards a sale to avoid the claws of complete bankruptcy.
Sarah Foss, who is head of legal at Debtwire and an expert bankruptcy lawyer, told USA Today: "Chapter 11 liquidation appears to be the most likely scenario for the retail chain as a going concern buyer for its US assets and leases has not yet emerged.
"A liquidation would have a significant impact on shopping malls nationwide which have struggled in recent years amid a shift to online shopping, as well as on Forever 21’s store employees across the country.
US braces for '45,000 store closures'
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
"The intellectual property can have significant value even as distressed sales are occurring."
As a part of its liquidation, Forever 21 is currently selling things at up to 80% off clothing, accessories and footwear.
The standard amount taken off is usually between 20%-40%.
Forever 21 has struggled in recent years to keep up with competition like Shein and Temu, and several stores have already closed their doors.
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These include stores in Connecticut, California, Washington state, Pennsylvania, Idaho and North Dakota.
Some stores, however, didn't have a set plan for closure, according to one employee in Sacramento, California from Fox 40.
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