Written by The Business Journal Staff
Approximately 51 workers will be laid off as a result of the closure of Forever 21, according to the document.
Located in the Hanford Mall, the budget-priced, teen retailer originally put the 80,000-square-foot space up for sale last fall.
The Hanford Forever 21 store is one of four large anchor tenants at the mall and is currently owned by the LA-based teen clothier. The property is for sale for $4 million, according to Matt Kircher of DTZ Retail of Sacramento.
Industry sources say the teen retailer plans to vacate the Hanford store, or most of it, as part of any sale, as it is more space than they need. In most markets, the trendy clothing store formats are closer to 24,000-square-feet, with many of them smaller than that.
Forever 21 acquired the Hanford building when Gottschalks went through bankruptcy in 2009.
The company paid a reported $17.4 million for 13 former Gottschalks department stores across the state, including sites in Hanford, Fresno and Bakersfield.
Now, Forever 21 is reportedly on a downsizing mission at some of the former Gottschalks spaces, including the facility in San Luis Obispo, which closed in January. Hanford and a store in Yuba City are expected to close in April, according to this week’s WARN notice.