Fashion retailer Forever 21 will be closing all 44 stores in Canada and up to 178 locations in the U.S. after filing for bankruptcy protection.
The Los Angeles-based company announced Sunday that it had filed for protection and confirmed Monday that it plans an “orderly wind-down” of the entire Canadian business.
In a statement the company’s chief financial officer said they considered numerous options before it came to the difficult decision to discontinue operations in Canada, adding it believes the choice to be the right one for Forever 21 Canada.
The retailer operates 44 stores in Canada with locations in Alberta, B.C., Manitoba, Ontario, Quebec and Nova Scotia. An estimated 2000 Canadian employees will be losing their jobs in the process.
Forever 21 will also close most of its locations in Asia and Europe but will continue operating in Mexico and Latin America.