Closing all stores remain online
Teen fashion chain Forever 21 will close all 44 of its Canadian stores and up to 178 locations in the United States while restructuring its global business under bankruptcy protection. The Los Angeles-based company announced Sunday that it had filed for protection under US and Canadian laws and confirmed Monday that it plans an “orderly wind-down” of the entire Canadian business. “Forever 21 has made the difficult decision to discontinue further financial and operational support for Forever 21 Canada as we reposition the brand and global business to adapt to the current retail environment,” it said in a statement. Current retail environment sounds like “buy it online.”
