ALL Forever 21 Canada Stores are Closing!
Gordon Brothers and Hilco Merchant Resources to Liquidate Inventory at All Forever 21 Canada stores
Gordon Brothers and Hilco Global announced that they will be operating liquidation sales beginning today, October 8, 2019 at all Forever 21 stores throughout Canada. This announcement comes after Forever XXI ULC (“Forever 21 Canada”) obtained an Order from the Ontario Superior Court of Justice on Monday October 7, 2019 approving a process to liquidate all locations. A full listing of closing locations can be found here.
Beginning today, customers can take advantage of discounts from 10% - 50% off original price. Liquidation discounts will be available on all merchandise including new fall and winter apparel and accessories.
Gordon Brothers and Hilco Global (through its Canadian division, Merchant Retail Solutions, ULC) (collectively, the “JV Group”), have significant experience in Canada having operated several recent events for other retailers in Canada.
A spokesperson for the JV Group said, "We encourage consumers to shop early to take advantage of the best selection of products and great savings available throughout the stores while supplies last.” Store fixtures, furnishings and equipment in the closing stores will also be for sale.
All purchases made during the liquidation sale are final. However, Forever 21 Canada will honour its existing return and exchange policy up to (and including) October 15, 2019 for goods purchased on or before October 7, 2019. Existing gift cards will be honored at Canadian locations through October 15, 2019.
About Forever 21, Inc.:
Founded in 1984, Forever 21, Inc., headquartered in Los Angeles, California, is a fast fashion retailer of women’s, men’s and kids clothing and accessories and is known for offering the hottest, most current fashion trends at a great value to consumers. Forever 21 delivers a curated assortment of new merchandise brought in daily. Forever 21, Inc., through its wholly-owned subsidiary, Forever XXI ULC, operates 44 retail stores in premium malls across Canada, selling apparel, accessories, and other products under the Forever 21 and other related brand-names.
About Gordon Brothers:
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with 25 offices across five continents.
About Hilco Merchant Resources, LLC:
Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer’s strategic initiatives. Hilco Merchant Resources’ activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment. Additionally, HMR now includes among its subsidiaries the nation’s premier fixture and equipment liquidation firm, Hilco Fixed Asset Recovery (www.hilcoffe.com), an innovative sale locater website called Shop Genius (www.shopgenius.com), as well as the popular online retail and daily deal e-commerce company, Deal Genius, LLC (www.dealgenius.com). Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), one of the world’s leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace.