California (Thechieftainspear) – Popular fashion retailer Forever 21 is cutting nearly 700 jobs across California and Pennsylvania as part of a major restructuring effort. The company is also shutting down its Los Angeles headquarters, marking a significant shift in its operations.
The news was revealed through multiple Worker Adjustment and Retraining Notification (WARN) filings submitted in recent days.
California Stores Set to Close
Several Forever 21 locations in California are scheduled to shut down, including stores in Orange, Riverside, Ontario, Rancho Cucamonga, Montclair, Santa Ana, Lakewood, and Cerritos.
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The biggest blow comes to the Los Angeles headquarters, which employs more than 350 people and is now set to close, according to Retail Dive.
Company’s Financial Troubles and Future Plans
A representative from Catalyst Brands, the parent company of Forever 21, stated that the company is evaluating strategic options while also focusing on cutting costs and optimizing store locations.
Amid ongoing financial difficulties, the company started liquidation sales last month and is reportedly preparing for a second bankruptcy filing. If Forever 21 fails to secure a buyer, reports indicate that its entire 350-store chain could be liquidated.
At its peak, the brand had an expansive global presence, operating over 800 stores worldwide. However, mounting financial struggles have led to widespread closures and uncertainty about its future .
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