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Judge to Approve Forever 21 Sale That Ends Founders’ Control

  • Authentic, Simon Properties, Brookfield have bid $81 million
  • Chang family’s effort to maintain control spooked lenders
Forever 21 locations As Clothing Store Plans Potential Bankruptcy
Photographer: Jeenah Moon/Bloomberg
Updated on

Forever 21 Inc. is moving out of its parents’ house.

U.S. Bankruptcy Judge Kevin Gross on Tuesday said in a hearing that he would approve the sale of the retailer to its two largest landlords -- Simon Property Group Inc. and Brookfield Property Partners LP -- and Authentic Brands Group LLC, marking the end of control by the Chang family.