Business and commercial: Forever 21 chain closing its doors

A well-known clothing chain will soon be closing its locations. The business and commercial world was sent reeling recently when Forever 21 announced it would be closing all its stores in Canada and stateside and has filed for bankruptcy. The company has nearly 2,000 employees in Canada at 44 locations. A statement issued by the company stated it would reposition the brand and global business in Canada to adapt to the current retail environment.

All store locations in Canada -- including those in Ontario -- will close by the end of this year, the company said, although no indication has been made as to which stores will close when. Canadian fans of the brand will still be able to shop online for items but will have items shipped from the states. Those who haven't used gift cards yet must use them in store by this Oct. 15.

Canadian customers may be able to use gift cards in locations in the states, but the company hasn't made that definitive. Liquidation of stock on remaining stores will begin soon. The company cites years of poor performance as the reason for closing in Canada. Meanwhile, 178 shops will be closing in the states, but there will be a number of retail outlets that will remain open there.  

Business and commercial endeavours in Canada can mean closing or revamping operations. Trudging through these legal waters might be complex and confusing. A lawyer may be able to offer insightful legal advice to entrepreneurial clients needing to close their businesses or to make significant changes to them. Getting a lawyer's guidance may help a client to think of things he or she might not have thought about when it comes to crucial decisions regarding a business. 

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