MANILA, Philippines — Bad news: Fashion retailer Forever 21 has declared that it has filed Chapter 11 bankruptcy protection in the United States to reportedly restructure its business. The good news: Forever 21 shops in the Philippines will not be affected by the move, a representative of mall chain giant SM told Philstar.com. Forever 21 came to the Philippines through a partnership with the SM Retail Group. It opened its Philippine flagship store in SM Megamall in 2010. Originally founded as Fashion 21 in Los Angeles, California in 1984, Forever 21 offers beauty products as well as ready-to-wear and accessories for women, men and children.

Source: Philippine Star September 30, 2019 06:00 UTC