Wednesday, February 5, 2020

Forever 21 sale plan approved despite supplier, landlord objections

Retail Dive
Forever 21 won approval from a federal bankruptcy judge for its plan to auction itself later this month. The court also approved the $81 million “dark horse” bid from Authentic Brands Group, Simon Property and Brookfield, which serves to set a baseline for a bankruptcy auction and would preserve Forever 21 as an operating retailer.

The auction, if necessary, is set for the morning of Feb. 10, with a hearing the next day to consider the sale. . . . more