Business & Tech
Major Retailer To Close Meriden Store
A national retailer will close down its Meriden location along with three others across the state.
MERIDEN, CT — Forever 21 will be closing its Meriden Square Mall location, according to a statement from the company. The retailer will be closing 178 locations nationwide.
Here are the Connecticut locations Forever 21 plans to close:
- 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
Forever 21 announced it has filed for Chapter 11 bankruptcy in a letter to customers Sunday.
Find out what's happening in Meridenfor free with the latest updates from Patch.
The teenage clothing store made it clear, though, it wasn't going out of business, and instead filed for bankruptcy protection as a "deliberate and decisive step to put us on a successful track for the future," according to the letter.
Numerous big-name retailers have announced closures during the past year. Pier 1 also recently said it will shut down 145 stores across the country.
Find out what's happening in Meridenfor free with the latest updates from Patch.
The two companies join a growing list of brick-and-mortar establishments that have seen a nosedive in revenue and popularity with the emergence of e-commerce companies such as Amazon and Walmart.
"We are confident this is the right path for the long-term health of our business," Forever 21 said in the letter to customers. "Once we complete a reorganization, Forever 21 will be a stronger, more viable company that is better positioned to prosper for years to come."
Forever 21 saw its revenue decrease to $3.3 billion last year, down from $4.4 billion in 2016, according to the New York Times. The company also has laid off more than 10,000 people since 2016.
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