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Commercial Awareness Compass

Not so Forever 21: Is fast fashion losing its speed?

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Henry Nelson-Case

Henry is a Senior Associate at Thrive Law, with a background in both private practice and in-house. His expertise spans across IP technology and comms commercial litigation.

Published Mon, 05 May

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The world of restructuring and insolvency is a fascinating but unforgiving place. Last week, fast fashion giant Forever 21 finally ran out of road, filing for bankruptcy and announcing the closure of its 350 US stores. The company has cited various reasons, although the most prominent is the intense competition from fast fashion giants like Shein and Temu. But it’s not all doom and gloom; the brand plans to retain its international presence and online sales.

So, what happens next? Could this be enough to keep it from disappearing forever? Can the brand be salvaged through strategic restructuring, or is this its final walk on the retail runway? One thing for sure is that while drama is guaranteed, unfortunately, a rescue plan is not.

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