Forever 21 is planning to reduce the size of its UK stores as it struggles to gain market share from high-street fashion rivals.
The American fashion retailer is understood to have enlisted retail property firm Harper Dennis Hobbs to review and cut the size of its four remaining UK stores, including its Oxford Street flagship, according to The Sunday Telegraph.
It also reportedly plans to reduce the size of its remaining outlets in Liverpool, Birmingham and Bluewater shopping centre.
This is the latest in a string of store reductions for the fashion retailer, which closed its Scottish flagship in Glasgow in April and its Westfield Stratford outlet last month.
Forever 21 will also close its shop in Lakeside shopping centre in Essex shortly.
The fashion retailer’s rapidly decreasing store estate flies in the face of its earlier ambitions, as former chief executive Larry Meyer said the retailer would have shops in “every major city, every mall and every high street” within five years of entering the UK market in 2010.
The latest full-year figures filed by the retailer at Companies House reported a pre-tax loss of £18.4m in 2014/15.