Forever 21 – the global fast-fashion retailer which recently filed for bankruptcy – announced on Tuesday that it will not close down its Philippine stores despite facing financial woes.
In a statement, Forever 21 Philippines said that it assures the public that the retail chain will remain business as usual and will continue its operations in the country following the Los Angeles-based privately held chain filed for Chapter 11 bankruptcy.
It also said it will close down 178 stores in the U.S.
The first Philippine branch of Forever 21 opened in 2010 at SM Megamall and SM Retail Inc. President Chito Manalo Jr. assured the public that “full operations” will continue in all of 15 Forever 21 stores in the country.
The company added that it is ready for the rise in demand from consumers as the peak season in shopping commences in time for Christmas.
“We will continue to offer up-to-date merchandise and are gearing up our marketing investments for the Christmas season,” said Manalo.
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