Forever 21 Canada to host huge liquidation sale soon
Forever 21 Canada might be hosting a liquidation sale soon, pending court approval.
According to BNN Bloomberg, the retailer might be in the process of liquidating until November 30.
However, sales may start as early as tommorow, October 8.
Gift cards will not be accepted after October 15, but will be accepted on the retailer’s U.S. 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.
On Sunday, September 29, Forever 21, Inc. announced that it and its U.S.subsidiaries had commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the District of Delaware.
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 major of them (22) located in Ontario. The company also has over 2000 employees across the Canadian store locations.
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