Forever 21’s UK stores hold £30 million stock clearance sale
Administrators for Forever 21 UK have announced that the fashion retailer’s three UK stores have commenced a £30 million stock clearance sale.
Damian Webb and Allan Kelly of RSM Restructuring Advisory were appointed as joint administrators of Forever 21 UK on 30 September after its US parent company filed for Chapter 11 bankruptcy.
Damian Webb, a retail restructuring partner at RSM UK, 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.”
RSM said stock will be replenished throughout the winding down period and that there will be regular additions of new lines.
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