PHOENIX — Fashion retailer Forever 21 filed for Chapter 11 bankruptcy Sunday and plans to close 350 stores worldwide, including three in Arizona, according to a October 1 bankruptcy court filing.
The downsizing effort will hit two Macerich-owned Valley malls — Arrowhead Towne Center in Glendale and Scottsdale Fashion Square.
At Arrowhead, Forever 21 was in a former Mervyn’s location, which will be a big hit to the shopping center.
Forever 21 also is closing one of its F21 Red stores at the Mariposa Mall in Nogales.
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