Fashion brand bankruptcy hits UK sites
Forever 21 has confirmed that it will be closing three stores in the UK in the new year, after filing for Chapter 11 bankruptcy in its home country in the US.
The store closures will take place in London, Liverpool and Birmingham.
The fashion retailer said at the time of its administration that it will axe half of its store estate from around 800 around the world to between 450 and 500.
RSM UK retail restructuring partner Damian Webb said: “The decision by Forever 21 to file for Chapter 11 bankruptcy in the US has regrettably led to the UK company being placed into administration.
“Despite the parent company’s financial difficulties across its worldwide estate, the Forever 21 brand has remained very popular with shoppers, and we are anticipating huge interest in this closing down sale. Visitors to Forever 21’s UK stores in London, Liverpool and Birmingham can expect to see some very attractive prices from the outset.”
