Forever 21 files for bankruptcy again
The clothing retailer, once a mainstay of malls across the country, has filed for bankruptcy and plans to permanently close its remaining stores.
scripps news
Saks Off Fifth, the discount retailer of sister store Saks Fifth Avenue, will close nine stores across the United States, the company said in a statement to USA TODAY.
Closures are scheduled to begin in January 2026 in the following cities:
- Austin, Texas
- chicago
- east hanover new jersey
- niagara falls, new york
- Pittsburgh North (McKnight Road)
- Franklin Mall (formerly Philadelphia Mills) in Philadelphia
- Plymouth Meeting, Pennsylvania
- Washington DC
- west hartford, connecticut
Saks Off Fifth operates about 100 stores in the United States and Canada, according to the company’s website.
What did the company say?
The company said the closures are part of an effort to “optimize” its store presence, “allowing us to focus more attention on high-performing, high-potential store locations and overall store footprint improvements.”
“We are confident that this will better position Sachs-Off’s fifth business for long-term success, and we look forward to continuing to serve our customers.”
The company previously announced it would close its 57th Street store in Manhattan, according to multiple reports.
Other retailers also close stores
The move comes as inflation continues to be an issue for consumers and retailers close many stores.
Prices rose at a slower pace than expected in September, according to a recent report from the Bureau of Labor Statistics.
Over the past 12 months, the all-item index rose 3% before seasonally adjustment.
Macy’s announced in 2024 that it would close 150 stores as part of a turnaround effort through 2026, saying the move was “designed to return the company to sustained, profitable sales growth.” At the same time, the company announced that it would invest in 350 current Macy’s stores.
Forever 21, once a popular fashion retailer, closed all of its U.S. stores earlier this year after filing for Chapter 11 bankruptcy in March.
Saks Off Fifth piloted the original outlet store in Franklin Mills, Pennsylvania under the name Saks Clearinghouse. The company launched the Saks Off 5th website in 2013.
Michelle Del Rey is a trending news reporter for USA TODAY. Please contact mdelrey@usatoday.com.
