Another business is hit by the financial hardships that are suffocating the economy in Lebanon.
American fast-fashion retailer Forever 21 in Lebanon has confirmed to The961 that it has officially closed down since June 1st, 2020. The only Forever 21 store in Lebanon is located in City Centre Beirut.
This news came as a shock to many loyal shoppers, whereas others did not find it surprising. That’s because the store had already filed for bankruptcy in the United States in September 2019.
After filing for bankruptcy, the company announced it would close most of its international stores across 40 countries.
However, according to the City Centre store, Forever 21 Lebanon was not on that list because it is connected to the franchiser Sharaf Retail in Dubai, rather than the USA company.
But with the dollar crisis, it has not been able to sustain itself. In addition, City Centre Beirut was closed for almost three months due to the pandemic, majorly affecting the already struggling business.
The Forever 21 team has since launched a hashtag to #SaveForever21Lebanon to appeal to heads of the company and avoid closing the store that had opened in 2015 and welcomed many excited shoppers.
The team believes that by spreading the hashtag, hence showing the love to the store, it could affect the shutdown. “We still have hope,” they told The961.
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