We told you this would happen! Forever 21 has officially filed for bankruptcy! So get ready to say goodbye to Forever 21 branches here in Asia!
Yep, that’s it! The story is officially coming to a close. It’s been a rough few months for Forever 21. And it looks like they’re finally admitting defeat and throwing in the towel. Because they have just officially filed for bankruptcy and are planning to close most of its branches in Asia. So better start saying your goodbyes.
We don’t want to say we told you so…
But we totally told you so! We told you that their Mega Sale was your last chance to cop Forever 21 deals! So if you missed your chance last September 27-29 at Megatrade Hall 2, you still have one more shot on October 3-6 at SMX Manila! So unless you’re planning to travel to the US anytime soon, because they’ll still have select branches open there, we suggest you head on over to Mall of Asia. Sis, they’re offering 70% off deals, who cares if Forever 21 is closing branches all over Asia? You need to cop those deals!
All the details, right here!
According to Business Insider, Forever 21 operated over 800 stores worldwide. And around 500 of those are located in the US. Out of that 500, they are closing 178 stores as of the time they filed for Chapter 11 bankruptcy protection. So although Forever 21 is closing branches in Asia and Europe, they’ll still maintain their stores in Mexico and Latin America. And that they have no plans of pulling out on major markets in the US. I guess they mean their stores in major cities.
Everything is getting beat by online shopping!
Forever 21 is only one of the recent victims of online shopping. Shops like Payless Shoes and Topshop are victims as well. Because as more and more people start preferring online shops than physical stores, the fast-fashion empire will soon be a thing of the past. And it’s only right because fast-fashion is hurting the environment more than we realize. ICYDK, fashion or clothing is the second-largest polluter in the world next to oil! So we really do need to be more conscious about our fashion choices. Not only style-wise but also eco-wise.
So maybe, in the end, it is a good thing that Forever 21 is closing branches in Asia. Personally, I don’t throw clothes away. I donate them to those in need. And maybe this is a lesson we need to learn as Filipinos to be more aware of the impact of the clothes we buy.
How do you feel about Forever 21 closing their branches in Asia? Will you be going to their Mega Sale at SMX? We’d love to hear what you think! So share with us your thoughts in the comments down below! Or hit us up on our Facebook or Twitter @UDoUPh.