PHOENIX — Fashion retailer Forever 21 filed for Chapter 11 bankruptcy Sunday and plans to close 350 stores worldwide, including three in Arizona, according to a October 1 bankruptcy court filing.
The downsizing effort will hit two Macerich-owned Valley malls — Arrowhead Towne Center in Glendale and Scottsdale Fashion Square.
At Arrowhead, Forever 21 was in a former Mervyn’s location, which will be a big hit to the shopping center.
Forever 21 also is closing one of its F21 Red stores at the Mariposa Mall in Nogales.
Click here for the full story from the Phoenix Business Journal.