The liquidation process, which began this month, includes large discounts at both physical stores and online. HCR is managing the sales in partnership with Gordon Brothers and SB360, according to the announcement.
"Stores are fully stocked, and fresh inventory is continuously being added at incredible discounts," said Ian Fredericks, HCR's CEO. "Customers should shop early for the best selection—once items are sold out, they're gone!"
The iconic North American retailer, which rose to prominence by offering trendy clothing at affordable prices, ultimately succumbed to mounting pressure from online fast fashion competitors like Chinese-based e-commerce platforms Shein and Temu, according to HCR.
Shoppers can expect discounts of up to 60 percent off the lowest marked prices of all merchandise, including women's, men's, and children's clothing and accessories. The company noted that all inventory has been significantly marked down to facilitate the liquidation.
HCR also stated that some conditions apply, including that all purchases made on or after Feb. 24 are final. Returns will still be accepted for purchases made before that date. Gift cards will be accepted through April 15, giving customers a limited window to use any remaining store credit.
As part of the liquidation process, store fixtures and equipment are also available for purchase.
F21 OpCo, LLC, which operates Forever 21 stores and licenses the Forever 21 brand in the United States, directed customers to visit forever21.com for more information about store locations and online shopping options.
The liquidation is being managed by a consortium of retail specialists.
News about Forever 21 comes after retailers Macy’s and Kohl’s announced plans in January that they would close nearly 100 stores nationwide, following several quarters of negative year-over-year revenue growth.