Forever 21 said it would suspend an auction for its business scheduled for Monday, as it hasn't received any qualified bids beyond its stalking horse. The retailer previously set a bid deadline of Feb. 7.
Without an auction, the retailer said it planned to go forward with a hearing scheduled for Feb. 11 to approve its stalking horse bid, an $81 million offer assembled by Authentic Brands group and major Forever 21 landlords Simon Property and Brookfield.. . . more