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