The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
101 - 130 jobs Number of planned job losses
Announcement Date
4 January 2018
Employment effect (start)
1 February 2018
Foreseen end date
Description
The American clothing retail chain Forever 21 has announced that it will close its flagship store in Amsterdam by the end of January 2018, resulting in the loss of more than 100 jobs. It is speculated that the closure may have something to do with the high rental fees for the property, but the general manager has stated that closing the store is part of a larger strategic plan. He has promised to make an effort to find new jobs for all employees that are losing their positions.
Forever 21 is a family-owned clothing retailer with over 800 stores worldwide across 57 countries in North America, Europe, Asia, and the Middle East, employing over 35,000 workers.
Sources
5 January 2018: fd.nl
5 January 2018: parool.nl
4 January 2018: fashionunited.nl
Citation
Eurofound (2018), Forever 21, Closure in Netherlands, factsheet number 92998, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92998.
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