Forever 21 closes its Madero store in CDMX

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The Forever 21 clothing chain closes its branch located in Madero Street in the center of Mexico City, as part of its restructuring plan.

“Farewells are never easy… this place closes. But come visit us at our closest stores Via Vallejo, Tezontle Park, Oyo Coyoacan, Manacar Tower, Paseo Acoxpa ”, reads an ad placed at the location that the store occupied at the corner of Madero and Ghent.

On the possibilities of continuing with closures in the country in the process of restructuring the brand, company sources shared with El Financiero that the brand remains solid in Aztec land and there will be plans for expansion in the short term.

"I can't give you more details about the store, what I can confirm is that the brand is still very solid in Mexico with expansion plans for the following year," said a source close to the firm.

On the night of September 29, Forever 21 declared bankruptcy from its parent company in the United States, joining the growing list of fashion retailers brought down by strong competition, high rents and attrition of buyers to online outlets.

At the time, the chain detailed to El Financiero in an email that the restructuring strategy would focus on increasing its footprint value.

"The restructuring of Forever 21 will focus on maximizing the value of our footprint in the United States, Mexico and Latin America and closing certain international locations. The Latin American and Mexican market will not be affected by the presentation of the United States," the company said. in an email on September 30.


Source link
https://www.elfinanciero.com.mx/empresas/forever-21-cierra-su-tienda-de-madero-en-cdmx

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