Massive Clothing Company Now Begins Liquidation Sale As It Closes

A massive clothing company now begins a liquidation sale as it closes shop for good in just a few weeks, sources report.

Shoppers are rushing to grab a bargain at the Forever 21 outlet located in the Destiny USA shopping mall in Syracuse, New York, The-Sun reports.

The store will close for good on March 31, per Syracuse.com.

And, it has been reported the prices of items have been cut by a whopping 50%.

Shoppers have said they will be heading to the store before it closes.

“My daughter is hyped now,” one mom said.

“Not Forever 21 closing, I smell [a] shopping spree,” another chimed.

“It’s so many businesses starting to ‘close’… wow,” a third shopper said.

The Forever 21 store has been a staple at the shopping mall since 2000.

It closed temporarily in February 2019 as it underwent renovation work.

However, the company revealed at the time the store would be downsizing from two levels to one.

The store reopened in August 2019 and in line with the opening, gift cards were handed out to the first 100 shoppers.

There are more than 390 Forever 21 stores across the US, per the company’s website.

Last month, a Forever 21 store in Frisco, Texas – located around 25 miles from Dallas – temporarily closed as it is being renovated, per Community Impact.

The store is set to re-open in May following the refurbishment.

And, a Forever 21 outlet at the Santa Rosa Plaza mall in Santa Rosa, California, closed its doors in January, per The North Bay Business Journal.

The store has been at the shopping mall since 2002.

Forever 21 filed for bankruptcy in 2019 and chiefs closed 200 stores as part of restructuring plans.

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Also Read: A Cosmetics Company Now Makes Painful Store Closures

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Market News Today - Massive Clothing Company Now Begins Liquidation Sale As It Closes.
Market News Today – Massive Clothing Company Now Begins Liquidation Sale As It Closes.

Another popular restaurant now declares an unexpected bankruptcy after closing several chains in Chicago, Arizona, and California.

Etta Collective, a small chain that operates multiple concepts in Chicago, Arizona and Los Angeles has closed several restaurants and has filed for Chapter 11 bankruptcy, reports TheStreet.

The chain closed its namesake restaurant in Los Angeles last year and abruptly shut down a Chicago-area restaurant, Sophie’s, earlier this year.

Now, after defaulting on a $2.5 million loan, the company’s owner, restaurateur David Pisor, has officially made the bankruptcy filing.

Pisor’s Etta collective runs a number of different concepts including its namesake restaurants, a bakery cafe, Alston House, a high-end steakhouse, and Kari, an upscale sushi concept.

The chain also has Marilyn’s, a planned concept that has not opened.

Pisor has said that the bankruptcy filing was made in order to help the company continue to operate.

“We have made a proactive decision to commence this strategic reorganization process with the cooperation of our lender, who has agreed to work with us so that we can come out of this process even stronger than before,” Restaurant Business reported.

The bankruptcy process could include a sale of the brand as the investor John Leahy has emerged as a bidder for the company’s assets.

“Our aim is to best position the Etta brand for future success,” Pisor said in a statement.

“By filing for protection under Chapter 11, we will be able to restructure our financial position while continuing our daily operations and keeping our locations open. 

As has already happened in our Scottsdale location, we predict that we will emerge stronger both operationally and financially.”

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Also Read: Grocery Store With 217 Locations Now Closes For Good

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Market News Today - Massive Clothing Company Now Begins Liquidation Sale As It Closes.
Market News Today – Massive Clothing Company Now Begins Liquidation Sale As It Closes.

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