Forever 21 Bankrupt, Hudson Valley Stores Could Close

HUDSON VALLEY, NY — Forever 21 filed for bankruptcy protection on Sunday. The company will close up to 178 stores in the United States as part of its restructuring.

"The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords," company officials said in a letter to customers on the website. "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, which grew aggressively after its creation in 1984 by Korean immigrants to the USA, and made $4.4 billion in revenue at its peak just four years ago, also expects to close many of its stores in Europe and Asia.

In the Hudson Valley, stores that are in jeopardy are at:

• Jefferson Valley Mall
• Palisades Center
• Cross County Shopping Center
• Woodbury Common
• Poughkeepsie Galleria
• Galleria White Plains
• Galleria at Crystal Run

The trendy teen fashion firm is a tenant in many malls across the country. Its departure is expected to exacerbate the retail crisis.

Meanwhile, company officials said, "our stores are open and it will continue to feel like a normal day – you will not see any changes in our stores, gift cards will continue to be accepted, and our policies, including returns and exchanges, remain the same."

Questions regarding the Company’s bankruptcy filing? Visit the restructuring website.