Tuesday, February 11, 2020

No other bidders step up as Forever 21 nears sale

Retail Dive
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