A BELOVED department store has taken to social media to “clear things up” following reports of bankruptcy and closing stores.
The ambiguous message posted to Instagram has left many former employees wanting answers.
AlamyA beloved department store has taken to social media to “clear things up” following reports of bankruptcy and closing stores[/caption]The US Sun has previously reported on the bankruptcy filing of Forever 21, and the announcement it would be closing all its stores in the US.
Forever 21 filed for bankruptcy protection in March, and by May, was forced to close hundreds of stores.
All 354 Forever 21 stores closed in the US on May 1 after a potential buyer was not found.
Brad Sell, the chief financial officer of F21 OpCo said: “We are deeply grateful for the support you have shown us over the years, but rising costs and increased competition from abroad have made our current business model unsustainable.
“Forever 21 stores outside of the U.S. will continue to operate business as usual.”
Forever 21 had had done everything you would expect from a company going out of buisness.
Gift cards were made invalid after April 15 and huge 60% sales were held to clear stock.
But now, a vague message posted to social media nearly a month after the US closures, Forever 21 has sparked theories of a potential comeback.
On May 30, Forever 21 posted a cryptic message on Instagram that left everyone scratching their heads.
The message said: “We know there’s been some buzz, and we want to clear things up.
“Forever 21 isn’t going anywhere and we are still committed to bringing you the styles you love.
“Right now, we are evolving, refreshing and building what’s next.
“We get that change can feel unexpected, but we’re excited for what’s ahead, and we’ll be sharing more with you soon.
“Thanks for sticking with us, you’re the heart of everything we do.”
BRANDS HARD HIT BY BANKRUPTCIES
Many chains have struggled to adapt to a post-Covid retail landscape, with several companies filing for bankruptcy
JoAnn Fabrics and Crafts announced it would close all 800 stores after filing for bankruptcy twice in a year.
Hooters announced plans to file for Chapter 11 bankruptcy protection in February.
Liberated Brands announced that it would be closing all 122 retail locations for its boardsport fashion brands Quiksilver, Billabong, and Volcom.
Forever 21 shut down its headquarters after filing for bankruptcy and laying off 358 employees.
Macy’s announced major restructuring plans amid mass store closures.
EMPLOYEE CONFUSION
In the comments, former employees wanted to know why they were fired if Forever 21 is staging some kind of comeback.
One person said: “So give me my job back then. Or since you’re clearly making money, you can afford to pay us severance.”
Another said: “So why’d we all lose our jobs.”
And a third even suggested this was grounds for a class action lawsuit against the company: “I think all ex employees should file a class act. Maybe they’ll understand the “buzz” then.”
It is unknown what Forever 21 meant with this message, but the language does suggest a comeback in some shape or form.
The stores have been closed down for over a month, but given that nobody bought the brand, the name can still be used in a relaunch.
If Forever 21 is coming back, it is unclear why it went through the hassle of firing people.
Since that post, Forever 21 has not posted anything else on their Instagram page, which currently sits on 14 million followers.
ReutersAll 354 Forever 21 stores closed in the US on May 1 after a potential buyer was not found[/caption] Read More Details
Finally We wish PressBee provided you with enough information of ( Beloved department store vows to ‘clear things up’ in hope to fans after bankruptcy & sweeping closures )
Also on site :