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Forever 21 has been sold

Forever 21
Posted at 11:57 AM, Feb 03, 2020
and last updated 2020-02-03 14:06:22-05

CORPUS CHRISTI, Texas — Forever 21 has been sold.

The bankrupt clothing retailer has agreed to sell its business to a group of mall owners including Simon Property Group, Brookfield Property Partners, and Authentic Brands for $81 million.

Rival bidders have until Friday to make any counter offers.

Simon and Brookfield are two of Forever 21's biggest landlords.

This strategy previously was successful when Simon and Brookfield teamed up to rescue Aeropostale.