• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
Subscribe
  • Fashion
  • Sneakers
  • Bags
  • Accessories
  • Music
  • Rihanna
  • Follow
    • INSTAGRAM
    • FACEBOOK
    • PINTEREST
    • TWITTER
    • YOUTUBE
  • Store
News

Forever 21 Files Bankruptcy, Hopes To Keep 450 Stores Open

forever-21-bankruptcy

September 30, 2019. Leave a Comment

After a summer of struggling to avoid it, Forever 21 on Sunday night (September 29, 2019) waved the white flag and declared Chapter 11 bankruptcy. As part of restructuring, the California-based company will shutter operations in a total 40 countries, including Canada.

Currently the chain operates 800 stores with plans to close a total of 350 locations, including 178 in the United States. The chain’s website will remain operational. Liquidation sales at stores that are slated to close will likely begin as soon as October 31st.

Forever 21 will also shutter its 15-store Riley Rose format with aspects of the beauty-themed chain incorporated into remaining Forever 21 locations. At the same time, the company says it plans to reduce Forever 21 floorspace dedicated to home décor, electronics and cosmetics.

Forever 21 didn’t pay rent on its stores for the month of September and hopes to renegotiate leases, in particular large format stores in malls where landlords will have trouble finding a replacement tenant.

If all goes according to plan, the chain will still operate a total 450 stores though that number will depend on a number of negotiations and financial factors out of Forever 21’s control.

News Retail Forever 21

Primary Sidebar

Music

jade-offset-miss-you-dm

Ex-Bartender Jade Accuses Offset Of Sending Miss You DMs

Koffee-W-featuring-gunna-video

Koffee Focuses on the Wins With “W” Featuring Gunna

ti-deyjah-red-table-talk

Willow Smith And Ms. Niko Appear Less Than Impressed By T.I.’s ‘Red Table Talk’ Explanation

normani-savage-x-fenty-ambassador

Savage X Fenty Announces Normani As Brand’s First Ambassador

Sneakers

jordan-dior-launch-date-april-2020 (4)

Jordan And Dior Begin Collaborative Partnership With Air Jordan I High OG Dior

Vans Links With British Artist Damien Hirst For Artsy Capsule

nike-sacai-ldwaffle-black-nylon-BV0073-002-release-date-2020 (1)

Nike And Sacai’s LDWaffle Sneaker Returns In Black And White Nylon

nike-lauren-halsey-air-force-1-CU3052-001-december-7-2019 (2)

Los Angeles Artist Lauren Halsey Puts Some Love On Nike’s Air Force 1

Streetwear

dior-kim-jones-shawn-stussy-2

Kim Jones Coaxes Shawn Stussy Out Of Retirement For Pre-Fall 2020 Menswear Capsule

Melody Ehsani Teases ‘Queen & Slim’ T-Shirts

Daily Paper Celebrates Cozy Classics For Holiday 2019

supreme-nike-leather-november-29-2019 (35)

Supreme Links With Nike For Leather-Themed Apparel Capsule

INSTAGRAMFACEBOOKPINTERESTTWITTERYOUTUBE
  • Home
  • About
  • Contact
  • Shop

Copyright © Snobette - Privacy Policy

Asset 1
Asset 1
  • About
  • Contact
  • Privacy Policy
  • Fashion
  • Sneakers
  • Bags
  • Accessories
  • Music
  • Rihanna