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Forever XXI ULC Announces Plan to Wind Down Canadian Operations

TORONTO -- Forever 21, Inc. (the “Company”) announced today that it plans to wind down its Canadian business operated by its Canadian subsidiary, Forever XXI ULC (“Forever 21 Canada”). To effect the wind down, Forever 21 Canada today filed for and was granted protection under the Companies’ Creditors Arrangement Act (the “CCAA”) by the Ontario Superior Court of Justice (Commercial List) in Toronto. PricewaterhouseCoopers Inc. was appointed as Monitor in the CCAA proceedings to oversee a full liquidation, once approved by the Court, and the wind-down process. Read More

from Financial Post https://ift.tt/2mTDpdS
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