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Forever 21 Files For Bankruptcy (Chapter 11)

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ajp    9,483

forever-21-office.jpg

Forever 21 said the restructuring will allow it to focus on the profitable core part of its operations and shut some international locations. 

 

“We have requested approval to close up to 178 stores across the U.S. The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords,” the company said in an email statement. 

Founded in 1984, the retailer said it has 815 stores in 57 countries. 

The company plans to close most of its stores in Asia and Europe. However, it does not expect to exit any major markets in the United States. 

 

Last week, Forever 21 had said it would exit Japan and close all 14 stores at the end of October. 

The company also said its Canadian subsidiary filed for bankruptcy and it plans to wind down the business, closing 44 stores in the country. 

Forever 21 will continue operations in Mexico and Latin America.

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Dan    15,060
Just now, Chris Morlock said:

good riddance!

jj4 

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Chris Morlock    44,760
1 minute ago, Dan said:

jj4 

theyre an actual trash company

  • put diet bars in orders of plus sized clothing
  • denied accusations refusing to pay 19 workers minimum wage
  • accused of producing in sweat shops/sweat shop-like conditions
  • used cultural likenesses in products ("oriental girl" necklace, feather headband, "Navajo" panties, etc)
  • They ripped off an indie logo designer without credit and then to another indie designer
  • copied Anna Sui, Diane Von Furstenberg and Anthropologie and other brands including H&M
  • fired Chrissy Teigen for being an "overweight" model

im sure i missed a bunch of stuff

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Dan    15,060
13 minutes ago, Chris Morlock said:

theyre an actual trash company

  • put diet bars in orders of plus sized clothing
  • denied accusations refusing to pay 19 workers minimum wage
  • accused of producing in sweat shops/sweat shop-like conditions
  • used cultural likenesses in products ("oriental girl" necklace, feather headband, "Navajo" panties, etc)
  • They ripped off an indie logo designer without credit and then to another indie designer
  • copied Anna Sui, Diane Von Furstenberg and Anthropologie and other brands including H&M
  • fired Chrissy Teigen for being an "overweight" model

im sure i missed a bunch of stuff

jj4 Didn't know that

I just used to get last minute glitter outfits for parties from them back in high school ny4 

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Chris Morlock    44,760
4 minutes ago, Dan said:

jj4 Didn't know that

I just used to get last minute glitter outfits for parties from them back in high school ny4 

i did some googling after Arigate happened ny4 

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Dan    15,060
13 minutes ago, Chris Morlock said:

i did some googling after Arigate happened ny4 

I must be out of the loop brit13 

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