(SPOT.ph) By now, you've probably heard the news about global retail brand Forever 21 filing for bankruptcy. You probably even wondered if that's the reason they had that big sale over the weekend. According to a report on BBC News, Forever 21 expects to close to 350 stores worldwide and plans to "exit most international locations in Asia and Europe."
Well, you can breathe easy because Forever 21 Philippines just released an official statement on their Facebook page, saying that it's business as usual for its local stores.
"Forever 21 Philippines on Monday, September 30, assured the public that it remains business as usual and will continue its operation," the statement reads. It also includes a quote from SM Retail Inc. President Chito Manalo Jr. which says: "There is no effect on our Philippine operations. We continue full operations of all 15 stores of Forever 21 in the country. The Philippines continues to be one of the stronger global operations."
There you have it, Spotters! Looks like Forever 21 won't be closing its local stores after all.
For more information, log on to Forever 21's Facebook page.