F21 OpCo, LLC, the company and licensee of the brand in the U.S., filed a Chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware. Although stores will remain open for now, Forever 21, which is headquartered in Los Angeles, said it will hold liquidation sales at its U.S. stores.

Purdue Pharma LP has filed a new Chapter 11 plan with the US Bankruptcy Court for the Southern District of New York, pledging it will give creditors including US states and other parties more than $7.

Forever 21 is filing for Chapter 11 bankruptcy and is closing down all of its U.S. stores, including 15 locations in New Jersey