Forever 21 Inc. reached a deal Sunday to sell the retail chain to a consortium of buyers including landlords Simon Property Group Inc., Brookfield Property Partners LP and Authentic Brands Group LLC for $81 million. The company will seek court approval of the deal naming the two real-estate companies and the licensing firm as the lead, or stalking horse, bidders at the court-supervised auction, according to papers filed in U.S. Bankruptcy Court in Wilmington, Del. Their offer, subject to higher bids at a bankruptcy auction,...

Source: Wall Street Journal February 03, 2020 03:56 UTC