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Forever 21’s New Owners in Talks to Keep Most U.S. Stores Open

Retailer hopes to name a new CEO in the coming weeks
Company aims to expand in Europe, Asia after bankruptcy exit

A Forever 21 Inc. store stands in the Times 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 retailer’s 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

February 19, 2020 at 5:25 PM UTC

Updated on

February 20, 2020 at 12:31 AM UTC

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Forever 21 Inc.’s new owners plan to keep most of the fast-fashion chain’s U.S. stores open under a new chief executive officer in the coming weeks when it emerges from bankruptcy.

Owners Authentic Brands Group, Simon Property Group Inc. and Brookfield Property Partners LP are talking with other landlords about keeping as many of its 448 U.S. stores in business as possible, Authentic CEO Jamie Salter said in an interview. Forever 21 is interviewing three CEO candidates and will name a new one soon, Salter said.