Canindia News

Major chain to host huge liquidation sale soon

All those thousands of fashionistas under 21 and over can head over to Forever 21 for one last time as the chain is expected to host a mega liquidation sale.

Given the massive inventory, the process of liquidating could go on until November 30.

For those who have or think they may have Gift cards, the cut off date to use them will be October 15, after that, shoppers with gift cards will have to use them on the retailer’s US website.

Gordon Brothers Canada and Merchant Retail Solutions will act as its third-party liquidators, which have been involved in some of Canada’s highest-profile liquidations, including Sears Canada, Target Canada, BCBG and Danier Leather.

It may be recalled that Forever 21, Inc. announced that it and its US subsidiaries had commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the District of Delaware late last month.
The Company also announced that its Canadian subsidiary filed for and was granted protection under the Companies’ Creditors Arrangement Act by the Ontario Superior Court of Justice in Toronto.

According to Statista.com, Forever 21 currently has 44 locations across Canada as of 2018, with the majority of them (22) located in Ontario. The company also has over 2,000 employees across the Canadian store locations. – CINEWS

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