Forever 21 To Wind Down Canadian Operations
Monday September 30th, 2019, 7:57am
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Forever 21 is closing all of their Canadian stores.
The company was granted protection under the Companies’ Creditors Arrangement Act by the Ontario Superior Court of Justice in Toronto on Sunday.
“After considering numerous options, we have made the difficult decision to discontinue operations in Canada. While this decision was not easy to make, we believe it is the right one for Forever 21 Canada. We had hoped for a different outcome, but after years of poor performance and challenges set forth by the headwinds facing the retail industry today, our Canadian operations are simply no longer economically viable,” said Bradley Sell, Chief Financial Officer of Forever 21 Canada.
They store at Devonshire Mall opened in October 2015. They currently have 44 stores in Canada and approximately 2,000 employees.
Forever 21 Canada stores will remain open during the liquidation process.
