Forever 21, Pier 1: Can DC And VA's 28 Stores Survive Shake-Ups?

VIRGINIA — Two staples of Washington, D.C., and northern Virginia malls have bad news for shoppers: Both national retailers plan to close more than 100 stores apiece as they revamp in the coming months. Clothing chain Forever 21 is expected to shut down 178 stores in the United States, and the home decor store Pier 1 could close up to 145 of its locations.

Forever 21 representatives said in a letter to customers on Sept. 29 that the company has filed for Chapter 11 bankruptcy.

The clothing store geared toward teens and shoppers in their early 20s made it clear, though, it wasn’t going out of business, and instead filed for bankruptcy protection as a “deliberate and decisive step to put us on a successful track for the future,” according to the letter.

Pier 1 announced its own possible store closings after reporting low financial results on Sept. 25.

“As anticipated, our fourth-quarter sales and profitability were disappointing and reflect the execution issues we identified earlier in the year and have been working with urgency to correct,” Cheryl Bachelder, interim Pier 1 CEO, said in a statement.

The two companies join a growing list of brick-and-mortar establishment that have seen a nosedive in revenue and popularity with the emergence of e-commerce companies such as Amazon and Walmart. In early September, Bed Bath & Beyond said it would close some stores and overhaul others ahead of the 2019 holiday shopping season.

“We are confident this is the right path for the long-term health of our business,” Forever 21 said in the letter to customers. “Once we complete a reorganization, Forever 21 will be a stronger, more viable company that is better positioned to prosper for years to come.”

Neither Forever 21 nor Pier 1 has yet specified the locations that will be closed.

Here are the Forever 21 locations in Virginia and the District of Columbia:

• Regency Square: 1404 N. Parham Rd. #1124A, Richmond
• Potomac Mills: 2700 Potomac Mills, Space #601, Woodbridge
• Manassas Mall: 8300 Suoley Road Space 31, Manassas
• Patrick Henry Mall: 12300 Jefferson Ave., Ste #100, Newport News
• Fair Oaks: 11750 Fair Oaks #H227, Fairfax
• Springfield Town Center: 6531 Springfield Mall, Springfield
• Peninsula Town Center: 3460 Von Schilling Drive H-127, Hampton
• Tysons Corner: 1961 Chain Bridge Rd., #E20L, McLean
• Dulles Town Center: 21100 Dulles Town Circle Suite 206, Dulles
• Fashion City @ Pentagon: 1100 S. Hayes St. Space A01, Arlington
• Shops at Georgetown Park: 3222 M Street, NW Washington
• Woodies Building: 1025 F Street NW, Suite #200, Washington
• MacArthur Center: 300 Monticello Ave., Suite #255, Norfolk
• Lynnhaven Mall: 701 Lynnhaven Parkway, Space #E07A, Virginia Beach

Here are the Pier 1 locations in Virginia:

• Rosslyn: 1717 Clarendon Blvd., Arlington
• Potomac Yards: 3901 Richmond Hwy., Alexandria
• Alexandria: 4609 Duke Street, Alexandria
• Falls Church: 5857-A Leesburg Pike, Falls Church
• Hybla Valley: 7684 Richmond Hwy., Alexandria
• Springfield: 6751-A Frontier Drive, Springfield
• Fairfax: 11210 James Swart Circle, Fairfax
• Sterling: 21050 Southbank, Sterling
• Potomac Mills: 14348 Gideon Drive, Woodbridge
• Manassas: 8105 Sudley Road, Manassas
• Leesburg: 502 D East Market St., Leesburg
• Gainesville: 13261 Gateway Center Drive, Gainesville
• Stafford: 1250 Stafford Market Place, Stafford
• Fredericksburg: 3071 Plank Road, Fredericksburg

Forever 21 saw its revenue decrease to $3.3 billion last year, which is down from the $4.4 billion in 2016, according to the New York Times. The company has also laid off more than 10,000 people since 2016.

The home goods store Pier 1 has been dealing with its own recent troubles. It had to close 30 stores at the end of its fiscal year in March of 2019, and the number of closures could now increase up to 15 percent of their outlets.

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