Retail News

Forever 21 gets a new lease on its retail life

Reuters 02/20/2020

Forever 21 is back in business. Simon Property Group, Brookfield Property Partners and Authentic Brands Group have acquired the bankrupt clothing chain for an unspecified amount of money. Simon and Brookfield, landlords of Forever 21 stores in their malls, acquired 37.5 percent and 25 percent of the chain and its intellectual property respectively in the deal. Authentic Brands took the remaining 37.5 percent stake.

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