Forever 21
Authentic Brands Group (backed by CVC Capital Partners, HPS Investment Partners, and Leonard Green & Partners) acquired Forever 21 out of its first bankruptcy in 2020. Despite the rescue, ABG's asset-extraction model couldn't overcome the $1.5B debt load. Filed second Chapter 11 in March 2025; all 355 U.S. stores closed by May 2025. ~27,000 employees affected.
- FOUNDED
- 1984
- ACQUIRED
- CVC Capital Partners, 2020
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check if a business is PE-ownedexcludes Burlington Coat Factory (Canada), Charlotte Russe, Gymboree
Editorial Record
maintained by DeathbyPE. Every claim links to a public source.Timeline
1984
Forever 21 founded
2020
Acquired by CVC Capital Partners
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