Texas Based Biz Now In A Tailspin, Closing 200 Stores

Plano, Texas is the headquarters for several Fortune 500 companies, and it is also the home to one of the newest retail giants that just formed earlier this year named Catalyst Brands that comes from the merger of JC Penny and SPARC Group. Sadly, news is coming to us from one of those Plano based brands that the are about to enter bankruptcy for the second time in the past five years, and that included the immediate closure of 200 stores.

Read More: Walmart Now Closing All Of These Texas Centers Permanently

Forever 21 was purchased in early 2020, and was able to have a renewed life as it seemed to be bouncing back nicely. However, it appears that first bankruptcy did properly telegraph the state of the brand, and not even being purchased by the shopping mall giant Simon and Authentic Brands could prove successful.

Texas Based Biz Now In A Tailspin, Closing 200 Stores

Those depressed moans and wailings you hear are from Gen X grandmas that will never get to torture their Gen Alpha granddaughters the same way they did their Millennial daughters, by dragging them to the local shopping mall to blow their allowance money on apparel that was cheaper than you can acquire from the arcade claw machine three doors down from Forever 21.

Read More: 300 Locations Now Closing By Retailer With 1,400 Texas Stores

According to this Newsweek article, at least 200 Forever 21 stores will be closing, and there is a very high probability that all 350 or so stores could be going away forever. So, even though Catalyst Brands are only a few weeks old, and losing one of their legacy brands, here's to hoping the rest of the brands in this Plano headquartered company remain strong.