Deals

Simon Property, Authentic Brands Consider Buying Forever 21

Mall owner may team with brand manager on bankrupt retailer
Short on cash, chain asks suppliers to take 50% IOU on goods

Pedestrians pass in front of a Forever 21 Inc. store in the Union Square neighborhood of New York, U.S., on Thursday, Aug. 29, 2019. Forever 21 Inc. is preparing for a potential bankruptcy filing as the fashion retailers cash dwindles and turnaround options fade, according to people with knowledge of the plans.Photographer: Jeenah Moon/Bloomberg

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By Lauren Coleman-Lochner, Eliza Ronalds-Hannon, and Kiel Porter

January 24, 2020 at 7:59 PM UTC

This article is for subscribers only.

Mall owner Simon Property Group is considering a bid to buy Forever 21 Inc., the bankrupt teen retailer that’s running out of money and time, according to people with knowledge of the matter.

Simon would pair with Authentic Brands Group LLC to buy and operate the stores and the brand, said the people, who asked not to be identified because the discussions are private. The talks are continuing, and there’s no guarantee that the various sides will agree on terms or that a sale will result.