UPDATE: Here’s a map of the Forever 21 stores that could close by the end of the year
Forever 21 releases the list of the stores it is planning to close in bankruptcy proceedings.
UPDATE: Forever 21 on Tuesday released a list of the nearly 180 locations it could potentially close as part of its bankruptcy proceedings.
When the apparel retailer filed for bankruptcy on Sunday evening, it said it had 549 stores in the U.S. and 251 locations internationally. The planned closures represent about a third of Forever 21′s entire fleet of stores in the U.S.
A company spokesperson said the restructuring “will focus on maximizing the value of our U.S. footprint and shuttering certain international locations.”
The list, filed in court documents, said the company doesn’t necessarily expect to close all of these locations, as talks with landlords are still ongoing to try to renegotiate leases and rents. But the 178 stores listed in this map are some of Forever 21′s most unprofitable, and it expects the stores will close if no further deals are reached. (See the full list below.)
If deals are reached, the company says it will remove the sites from its current store closure list and file a new list.
“We do ... expect a significant number of these stores will remain open and operate as usual, and we do not expect to exit any major markets in the U.S.,” a Forever 21 spokesperson said.
Liquidation sales are expected to be completed by the end of this year at the sites selected to be vacated. The company said it expects the inventory tied up at these stores is about $80 million.
CNBC reported on Monday how much the Forever 21 closures could impact U.S. mall owners. For many publicly traded mall owners, Forever 21 has been a top tenant. And in some instances, Forever 21 stores span more than 100,000 square feet, as the apparel retailer had a strategy of acquiring vacant department store space at one point to try to scale.
The store closure list released on Tuesday includes the Forever 21 store at the World Trade Center, owned by Unibail-Rodamco-Westfield, in New York. It has 18 locations owned by Westfield in total.
There are 16 Macerich locations on the list.
None of these landlords were immediately available to respond to CNBC’s requests for comment.
Also on the store closure list are Forever 21′s stores in SoHo in New York and at the Mall of America.
“It’s common practice for retailers in Chapter 11 to have a large pool of stores to close, but to then use that list to negotiate lower rents,” said Bill Read, executive vice president of leasing, acquisitions and business development at Birmingham, Alabama-based Retail Specialists. “If they don’t get help, they close. Today’s landlords are fairly sophisticated and know how to play this game. ... They have had a lot of practice lately.”
Here is the list of Forever 21 stores set to close, listed by store name and sorted by state:
- Dimond Center; 800 E. Dimond Blvd. #199, Anchorage, AK 99515
- Tanger Outlets Foley; 2601 S McKenzie St, Foley, AL 36535
- Outlet Shops Of Grand River; 6200 Grand River Blvd., Suite 646, Leeds, AL 35094
- Mariposa Mall (F21 RED); 250 West Maripose Road, Nogales, AZ 85621
- Arrowhead Towne Center; 7650 West Arrowhead Towne Center, Glendale, AZ 85308
- Scottsdale Fashion Square; 7014 E. Camelback Rd., #2433, Scottsdale, AZ 85251
- Solano; 1451 Gateway Blvd, Fairfield, CA 94533
- Fresno Fashion Fair; 755 East Shaw Ave., Fresno, CA 93710
- Tustin Marketplace (F21 RED); 2856 El Camino Real, Tustin, CA 92782
- Del Monte Shopping Ctr; 1500 Del Monte, Monterey, CA 93940
- Palladio; 410 Palladio Pkwy., Space 1941, Folsom, CA 95630
- Glendale Galleria; 100 W. Broadway Ste E005, Glendale, CA 91210
- The Americana at Brand; 899 Americana Way, Glendale, CA 91210
- The River at Rancho Mirage; 71800 Highway 111 Suite #B19, Rancho Mirage, CA
- Chico Mall; 1960 East 20th St., Chico, CA 95928
- Hollywood & Highland; 6801 Hollywood Blvd. #1C-134, Los Angeles, CA 90028
- The Plant (F21 RED); 7888-2 Van Nuys Blvd., Van Nuys, CA 91402
- The Shops @ Tanforan; 1150 El Camino Real Ste 348, San Bruno, CA 94066
- 2 Stockton Street (SF, CA); 2 Stockton Street, San Francisco, CA 94102
- Anaheim Plaza; 500 N. Euclid Street, Anaheim, CA 92801
- Vintage Faire; 3401 Dale Rd., #200, Modesto, CA 95356
- Lakewood Center Mall; 326 Lakewood Center Mall, Lakewood, CA 90712
- Inland Center; 200 Inland Dr., San Bernardino, CA 92408
- The Oaks; 350 W. Hillcrest Drive, Thousand Oaks, CA 91360
- Pacific View Ventura Mall; 3301 - 1 E Main St. #1260, Ventura, CA 93003
- Northgate Mall; 5800 Northgate Mall #043, San Rafael, CA 94903
- 901 State St.; 901 State Street, Santa Barbara, CA 93101
- Galleria at Tyler; 3700 Galleria at Tyler Mall, Riverside, CA 92503
- Pasadena; 35 N. De Lacey Ave., Pasadena, CA 91103
- The Galleria @ South Bay; 1815 Hawthorne Blvd, Ste 188, Redondo Beach, CA
- Hillsdale Shopping Center; 396 Hillsdale Shopping Center, San Mateo, CA 94403
- Parkway Plz; 415 Parkway Plaza #357, El Cajon, CA 92020
- Northridge Mall; 400 Northridge Drive, Suite #D01, Salinas, CA 93906
- Beverly Center; 8500 Beverly Blvd., Ste 835, Los Angeles, CA 90048
- Sun Valley; 329 Sun Valley Mall, Suite #121, Concord, CA 94520
- Fashion Island; 1101 Newport Center Drive, Newport Beach, CA 92660
- Valencia Town Center; 24201 W. Valencia Blvd. #139, Valencia, CA 91355
- Santa Anita; 400 South Baldwin Ave, Arcadia, CA 91007
- Galleria @ Roseville; 1173 Galleria Blvd,. #P107, Roseville, CA 95678
- Oakridge Mall; 925 Blossom Hill Road, #X-15, San Jose, CA 95123
- Mission Valley; 1640 Camino Del Rio, San Diego, CA 92108
- Sherman Oaks Fashion Square; 14006 Riverside Drive, Space #244, Sherman Oaks, CA
- University Town Center; 4545 La Jolla Village Drive Suite #H10, San Diego, CA
- Westfield Culver City; 6000 Sepulveda Blvd., Space #1450, Culver City, CA 90230
- Westfield Topanga Plaza; 6600 Topanga Canyon Blvd, Space #60, Canoga Park, CA
- Garden State Plaza; 1 Garden State Plaza, Space #1006, Los Angeles, CA 07652
- Tulare Outlet Center; 1695 Rutherford Street, Space A010, Tulare, CA 93274
- Denver Pavillions; 500 16th St Ste 178, Denver, CO 80202
- Flatiron Crossing; 51 West Flat Iron Crossing Dr., #ANC04, Broomfield, CO
- Orchard Town Center; 14694 Orchard Pkwy, #300, Westminster, CO 80023
- Danbury Fair Mall; 7 Backus Ave. #M100, Danbury, CT 06810
- Foxwoods Outlets; 455 Trolley Line Blvd. Suite 170, Mashantucket, CT 06338
- Stamford Town Center; 100 Greyrock Place, Space #D-101 and #D-203, Stamford, CT
- Meriden Square Mall; 470 Lewis Avenue, Space 50, Meriden, CT 06450
- Shops at Georgetown Park; 3222 M Street, NW, Washington, DC 20007
- Woodies Building; 1025 F Street NW, Suite #200, Washington, DC 20004
- Rehoboth III Outlet Center; 36504 Seaside Outlet Drive, Suite 1200, Rehoboth Beach,
- The Shops @ Wiregrass; 28210 Paseo Drive, Unit #190, Building No. Two,
- Altamonte Springs Mall; 451 E Altamonte Drive #2329, Altamonte Springs, FL 32701
- Pembroke Pines; 11401 Pines Blvd, Pembroke, FL 33026
- 701 Lincoln Road; 701 Lincoln Road, Miami Beach, FL 33139
- The Mall at Millenia; 4200 Conroy Rd Ste #206, Orlando, FL 32839
- The Gardens; 3101 PGA Blvd., Suite C107, Palm Beach Gardens, FL
- International; 2223 North Westshore Blvd Suite 2000, Tampa, FL 33607
- Destin Commons; 4224 Legendary Dr., Suite #F- 94, Destin, FL 32541
- Stonecrest; 2929 Turner Hill Road N.E #2460, Lithonia, GA 30038
- Savannah Outlets; 200 Tanger Outlets Blvd. Ste. 191, Pooler, GA 31322
- Guam Premier Outlets; 199 Chalan San Antonio Suite 200, Guam, Guam 96913
- Ka Makana Alii (F21 RED); 91-5431 Kapolei Parkway, Ste. 712, Kapolei, HI 96707
- Kaahumanu Center; 275 W. Kaahumanu Ave., #1034, Kahului, HI 96732
- Royal Hawaiian; 2301 Kalakaua Ave., Ste #209, Honolulu, HI 96815
- Pearlridge Shopping Center; 98-1005 Moanalua Road, Ste #231, Aiea, HI 96701
- Outlets of Des Moines; 801 Bass Pro Drive NW, Space #120, Altoona, IA 50009
- Lincoln Park; 865 W. North Ave., Chicago, IL 60642
- Kildeer Village Square (F21 RED); 20393 N. Rand Road, Ste 126, Kildeer, IL 60074
- Water Tower Place; 835 N Michigan Avenue, Chicago, IL 60611
- 10 South State Street; 10 South State Street, Chicago, IL 60603
- Geneva Commons; 122 Commons Dr, Geneva, IL 60134
- Yorktown Center; 300 Yorktown Center, Lombard, IL 60148
- Forest Plaza (F21 RED); 6363 E State St. Space XF, Rockford, IL 61108
- Old Orchard; 4999 Old Orchard Center #J6, Skokie, IL 60077
- Eastland Mall; 800 N. Green River Road, Space #318A, Evansville, IN
- Shops At Perry Crossing (F21 RED); 2539 Perry Crossing Way, Ste. 100, Plainfield, IN 46168
- Clay Terrace (F21 RED); 14550 Clay Terrace Blvd., Carmel, IN 46032
- The Legend at Village West; 1817 Village West Parkway, Suite #F101, Kansas City, KS
- Lake Charles (F21 RED); 3401 Derek Dr., Lake Charles, LA 70607
- Juban Crossing (F21 RED); 27853 Juban Rd., Denham Springs, LA 70726
- Mall of Acadiana; 5725 Johnston St, Space #D-164, Lafayette, LA 70503
- 449 Washington Street; 459 Washington Street, Boston, MA 02108
- South Bay Center (F21 RED); 21-39 District Avenue # 39, Boston, MA 02125
- 343 Newbury Street; 343 Newbury St., Boston, MA 02115
- Towson Town Center; 825 Dulaney Valley rd., Space #3025, Towson, MD 21204
- Ellsworth Place (F21 RED); 8661 Colesville Rd., Silver Spring, MD 20910
- Tanger Ocean City; 12741 Ocean Gateway, Ocean City, Ocean City, MD
- Montgomery Mall; 7101 Democracy Blvd, Space 1252, Bethesda, MD 20817
- Wheaton Mall; 11160 Veirs Mills Road, Silver Spring, MD 20902
- Macomb Mall; 32233 Gratiot Ave, Roseville, MI 48066
- Woodland Mall; 3195 28th St. SE, Grand Rapids, MI 49512
- Tanger Grand Rapids; 350 84th St SW, #480, Byron Center, MI 49315
- Twelve Oaks Mall; 27434 Novi Road, Novi, MI 48377
- Great Lakes Crossing; 4160 Baldwin Road Space #426, Auburn Hills, MI 48326
- Mall of America; 238 South Avenue #S230, Bloomington, MN 55245
- West County Center; 9 West County Center, Des Peres, MO 63131
- Summit Fair; 840 NW Blue Parkway, K-101, Lee’s Summit, MO
- Country Club Plaza; 111 Nichols Road, Kansas City, MO 64112
- Crossroads Center (F21 RED); 15140 Crossroads Parkway, Gulfport, MS 39503
- Cross Creek Mall; 425 Cross Creek Mall #TA-04, Fayetteville, NC 28303
- Asheville Outlets; 800 Brevard Road, Ste. 824, Asheville, NC 28806
- Northlake Mall; 9801 Northlake Mall Drive Space #201, Charlotte, NC
- Deptford Mall; 1750 Deptford Center Rd, Space #2111, Deptford, NJ
- Hamilton Mall; 4403 Black Horse Pike, Mays Landing, NJ 08330
- Hanover Commons (F21 RED); 200-240 Route 10 West Space 6-9, East Hanover, NJ 07936
- Cherry Hill Mall; 2000 Route 38 #1175, Cherry Hill, NJ 08002
- Short Hills; 1200 Morris Turnpike, Space D123, Short Hills, NJ 07078
- Brunswick Square; 755 State Route 18 #190C, East Brunswick, NJ 08816
- Santa Fe Place (F21 RED); 4250 Cerrillos Rd. #1030, Santa Fe, NM 87507
- The Summit; 13925 S. Virginia Street, Reno, NV 89511
- 490 Fulton St (F21 RED); 490 Fulton Street, Brooklyn, NY 11201
- Soho; 568 Broadway, New York, NY 10012
- Woodbury Centre (F21 RED); 37 Centre Drive, Unit 010, Central Valley, NY 10917
- Fashion Outlets of Niagara Falls; 1965 Fashion Blvd. Suite 238, Niagara Falls, NY 14304
- Atlas Park; 80-40 Cooper Ave., Suite #4-002, Glendale, NY 11385
- Kings Plaza Mall; 5301 Kings Plaza #210, Brooklyn, NY 11234
- White Plains Galleria; 100 Main St., Ste 221, White Plains, NY 10601
- Crossgates Mall; One Crossgates Mall Road, #99x06, Albany, NY 12203
- Sangertown Square; 8555 Seneca Turnpike, Space # D06, New Hartford, NY
- Gallera at Crystal Run; 1 Galleria Dr., Space #D207, Middletown, NY 10941
- Destiny USA; 1 Destiny USA Drive Space #99X01, Syracuse, NY 13204
- Roosevelt Field; 630 Old Country Road # 2041 A, Garden City, NY 11530
- Tanger Deerpark; 152 The Arches Cir Suite 924, Deer Park, NY 11729
- Oakdale Mall (F21 RED); 601-635 Harry L Drive Ste. 41, Johnson City, NY 13790
- Jefferson Valley; 650 Lee Blvd. #D118, Yorktown Heights, NY 10598
- Sunrise Mall; 1107 Sunrise Mall, Massapequa, NY 11758
- World Trade Center; 185 Greenwich St., Ste. LL4435, New York, NY 10007
- The Mall At Greece Ridge (F21 RED); 208 Greece Ridge Center Drive, Rochester, NY 14626
- Kenwood Center; 7875 Montgomery Rd, #2435, Cincinnati, OH 45236
- Eastwood Mall; 5555 Youngstown Warren Road, Suite #412, Niles, OH
- Liberty Center; 7530 Bales St. Space A-130, Liberty Township, OH 45069
- Tanger Jeffersonville; 8000 Factory Shops Blvd. #845, Jeffersonville, OH
- Dayton Mall; 2700 Miamisburg-Centerville, Space # 300, Dayton, OH
- Valley River Center; 222 Valley River Center, Eugene, OR 97401
- Monroeville Mall; 266 Monroeville Mall, Suite 226, Monroeville, PA 15146
- Millcreek Mall; 5800 Peach St. Unit #450, Erie, PA 16565
- Willow Grove Park; 2500 Moreland Rd, Ste 2001, Willow Grove, PA 19090
- 1708 Chestnut Street; 1708 Chestnut Street, Philadelphia, PA 19103
- Plymouth Meeting; 500 W. Germantown Pike, Space 1355, Plymouth
- Plaza Del Caribe; 2050 Ponce By Pass Suire #112, Ponce, PR 00717
- Manolia; 2701 David H. McLeod Blvd., Space #1316, Florence, SC
- Tanger Outlets Charleston; 4840 Tanger Outlet Blvd, North Charleston, SC 29418
- Cool Springs Galleria; 1800 Galleria Blvd, Ste #2520, Franklin, TN 37067
- Hamilton Place; 2100 Hamilton Place Blvd., Chattanooga, TN 37421
- Stonebriar Centre; 2601 Preston Road, Space #2148, Frisco, TX 75034
- Glade Parks (F21 RED); 1210 Chisholm Trail, Ste. 100, Euless, TX 76039
- Mall De Las Aguilas (F21 RED); 455 Farm-to-Market Rd. 375, Eagle Pass, TX 78852
- Westgate Mall (F21 RED); 7701 West Interstate 40, Ste. 542, Amarillo, TX 79121
- Village at Cumberland Park (F21 RED); 8934 S. Broadway Ave. Ste. 448, Tyler, TX 75703
- Central Texas Marketplace (F21 RED); 2408 W Loop 340, Waco, TX 76711
- Willow Bend; 6121 W. Park Blvd, Ste B121 & B214, Plano, TX 75093
- Tanger Forth Worth; 15829 North Freeway, #110, Forth Worth, TX 76177
- La Palmera; 5488 S. Padre Island Dr., Corpus Christi, TX 78411
- South Towne Center; 10450 South State St., Suite #2300, Sandy, UT 84070
- Tanger Park City; 6699 N. Landmark Dr. Space #L150, Park City, UT 84098
- City Creek Center; 51 S. Main St., Suite 162, Salt Lake City, UT 84101
- Regency Square; 1404 N. Parham Rd. #1124A, Richmond, VA 23229
- Manassas; 8300 Suoleu Road Space #031, Manassas, VA 20109
- Macarthur; 300 Monticello Ave., Suite #255, Norfolk, VA 23510
- Fair Oaks; 11750 Fair Oaks #H227, Fairfax, VA 22033
- Trails At Silverdale (F21 RED); 11467 Pacific Crest Place NW, Suite C100, Silverdale, WA
- Valley Mall (F21 RED); 2529 Main Street, Ste. 128, Union Gap, WA 98903
- 601 Pine Street; 601 Pine St., Seattle, WA 98101
- Bellevue Square; 248 Bellevue Square, Bellevue, WA 98004
- Outlet Collection of Seattle; 1101 Outlet Collection Way, Space 319, Auburn, WA
- Southcenter Mall; 836 Southcenter Mall, Tukwila, WA 98188
- Southcenter Mall; 467 Southcenter Mall #1545, Tukwila, WA 91811
- Mayfair Mall; 2500 Mayfair Road #0208, Wauwatosa, WI 53226
- West Towne Mall; 229 West Towne Mall #E16, Madison, WI 53719
- Morgantown Mall; 9311 Mall Rd, Morgantown, WV 26505
- Huntington Mall (F21 RED); 500 Mall Rd. Suite 603, Barboursville, WV 25504
PREVIOUS STORY: Forever 21, the teenage clothing emporium that rode America's mall boom and bust, said on Sunday that it filed for Chapter 11 bankruptcy.
The chain said it will file a motion to close up to 178 of its more than 800 stores, though it said in a letter to customers that "the decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords."
"We do however expect a significant number of these stores will remain open and operate as usual, and we do not expect to exit any major markets in the U.S.," the company said.
The ability to get out of leases and close stores at a lower cost is a key advantage that the bankruptcy process affords to retailers.
Linda Chang, executive vice president for the company, said in a news release that filing for Chapter 11 is "an important and necessary step to secure the future of our Company, which will enable us to reorganize our business and reposition Forever 21."
Forever 21 is the latest retailer to run into trouble amid the ascendancy of online shopping that has cut foot traffic to malls and brick-and-mortar stores. High debt levels and rent costs have also burdened traditional retailers.
In recent years, even healthy retailers have closed stores and struggling ones have filed for bankruptcy.
"Retailers relying on debt to finance their growth have always been particularly susceptible to slowdowns," said Greg Portell, lead partner in the global consumer and retail practice of retail consulting firm A.T. Kearney.
Further retail shutdowns are expected to pile up and may reach 12,000 by the end of 2019, Coresight predicts.
Forever 21 was founded in 1984 in a small Los Angeles store by South Korean immigrants Do Won Chang and his wife, Jin Sook. The chain expanded quickly in suburban malls and catering to young girls and women with a mix of inexpensive basics. The company perfected the fast-fashion model, drawing in customers with its frequently updated mix of clothes than what was offered at department stores or single brands.
"We get new merchandise in every day. With most mall stores, it's usually one or two days a week,'' a store manager said in 2001. "We always have the newest styles.''
The chain built massive stores, like its four-story, 90,000-square-foot flagship with 151 fitting rooms in the heart of New York's Times Square. And while many retailers started paring back their network of stores in recent years, Forever 21 kept adding stores as recently as 2016.
Traditional brick-and-mortar retailers that specialize in selling clothes to teens and young adults have struggled in recent years, as fashion cycles shorten and younger buyers shift from the mall to online purchases.
"The combination of fast fashion and accelerating supply chain speeds have exacerbated that risk by increasing the chances that a retailer reads the trends wrong and misses multiple trend cycles," said Portell.
Many retailers have run into trouble after being purchased by private equity firms or hedge funds, which piled on debt. Forever 21, by contrast, is still owned by its founders.
Forbes lists Won and Chang as having a net worth of $1.5 billion, and the privately-held company itself as having annual sales of $3.4 billion and 30,000 employees.