Forever 21 rearranges its global presence after filing for chapter 11 bankruptcy
The American company is launching a renewed, localized online store for consumers in Canada, Asia, Asia Pacific and Latin America.
Forever21 focuses in ecommerce. The American fashion retailer is launching a renewed, localized online store for consumers in Canada, Asia, Asia Pacific and Latin America, stated the company in a press release. This decision will strengthen the presence of Forever21 in the region where it announced that it would close all its physical stores.
The new strategy comes four months after the company filed for chapter 11 bankruptcy protection. The company secured a financing round of 275 million dollars from its current creditors, and another 75 million dollars from TPG Sixth Street Partners.
Forever21 plans to provide its customers in Canada, Asia, Asia Pacific and Latin America with an improved experience that will support more than 150 payment methods in 95 different currencies. The new ecommerce platform will also include a new shipping method and will be available in twenty-one different languages.
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