Forever 21 Philippines business will survive US bankruptcy says SM Retail
Forever 21 Philippines will continue to operate following the Californian fast-fashion brand’s highly-publicised bankruptcy in the US.
A press statement issued by local operator SM Retail said that all 15 outlets operating in the territory will continue trading.
“There is no effect on our Philippine operations,” said SM Retail president Chito Manalo Jr. “The Philippines continues to be one of [Forever 21]’s stronger global operations.”
SM Retail’s statement said that the US brand’s bankruptcy will serve to “reorganise, return to profitability, and focus on delivering incredible products to its customers,” for the firm.