More bad news for Tri-Cities mall. Another new tenant is bankrupt and closing
The parent to the trendy Forever 21 chain will close all stores even as it seeks a buyer for some or all of its assets.
The closures will affect its Kennewick store, which opened in Columbia Center in September 2021, two years after a previous bankruptcy and nearly three years after Columbia Center said it was coming.
After the lengthy delay, the chain, F21 OpCo LLC, moved into its 12,000-square-foot space near JCPenney following a $1.5 million remodel.
F21 and related entities, F21 Puerto Rico and F21 GiftCo Management, filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code in Delaware on Sunday, March 16.
It listed between $100 million to $500 million in assets and $1 billion to $10 billion in liabilities.
F21, based in Los Angeles, held out the possibility the chain could remain in business. As part of the bankruptcy, it has entered an agreement with its secured lenders to solicit interest from potential buyers.
It will conduct a court-supervised sale and marketing process. If successful, it said it may “pivot away” from a full wind down.
“The company believes this dual path process will best maximize operationality and value,” it said in a press release associated with the bankruptcy petition.
Forever 21 stores and the website will remain open during the winding down process.
Key documents, including the bankruptcy petition and court document, are posted at a public website, Verita.
Forever 21 is the latest bankruptcy to affect a high profile newcomer at the Kennewick mall, which is owned by Simon Property Group. JoAnn Inc., the national fabric and craft retailer, is exiting less than two years after moving in.
JoAnn invested more than $1 million in building a store in the former Sears spot. It moved into the 30,000-square-foot spot in July 2023.
The company filed for Chapter 11 in Delaware in January. It was sold to liquidator GA Group in a bankruptcy auction and is going out of business.
This story was originally published March 17, 2025 at 4:52 PM.