By: Farah Chandani | OTH News | Posted: September 30, 2019 08:18 pm
Following the chains file for bankruptcy, Forever 21 announced it will be shutting down all of its 44 Canadian locations along with 168 of 534 stores in the U.S.
Forever 21 filed for protection from its creditors under Chapter 11 of the U.S bankruptcy code earlier today, and will be filing a similar protection in Canada – the Companies’ Creditors Arrangement Act. The company plans to maintain stores across Mexico, Latin America, and the United States, but the unfortunately, the Canadian stores weren’t as lucky.
The Los Angeles-based chain said "All 44 Forever 21 Canada stores in Canada will close before the end of the year, and we have plans to liquidate our store inventory in the near term."
Canadian customers will still have the option to shop on the U.S. website. Announcements on store inventory liquidations can be expected in the near future Forever 21 is expecting approximately 2,000 job losses nationwide.
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