Forever21 (UK) Limited (07106457): administration
- Status
- Administration ended
- Administration began
- 2019-09-30
- Administrators
- Gordon Thomson, Damian Webb
- Administrators' firm
- RSM
- Incorporated
- 2009-12-16
- Location
- London
- Industry
- 47710 Retail sale of clothing in specialised stores
Why it went into administration
- Funding withdrawn / unable to refinance
- Property / lease costs
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
Brief background
The Company was incorporated on 16 December 2009 and opened its first retail store in November 2010. This was part of a global expansion of the business based on the success of the Forever 21 operations in the US and Asia.
The Company’s first financial year of trading (comprising of approximately four months) generated revenue of £3.39m with an operating loss of £1.99m.
Administrators' statement of proposals (2019-11-28) · Companies House register