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Forever 21 To Close All Stores, Online Shop In Japan By Late Oct

  • Category:Shopping

The Japan unit of fast fashion retailer Forever 21 Inc said Wednesday it will close all 14 stores in the country and its online shop by the end of October amid intensifying competition with other online apparel retailers.
The company said it decided to withdraw from the Japanese market as it had been operating in the red in recent years due to sluggish sales.

The announcement follows U.S. media reports in August that the Los Angeles-based company has been considering filing for Chapter 11 bankruptcy protection.

Forever 21 opened its first outlet in Japan in the trend-setting Harajuku district in Tokyo in 2009, and currently operates stores in Yokohama, Osaka and other major cities across the country.


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