Forever 21 Reportedly Reaches Agreement To Sell Its Assets For $81 Mln

(RTTNews) - Troubled retail chain Forever 21 has reached an agreement to sell its assets for $81 million to a consortium that includes mall owners Simon Property Group and Brookfield Property Partners and brand management company Authentic Brands Group, according to the reports citing a court filing.

The sale of Forever 21's assets includes its side brands, such as beauty store Riley Rose, and its e-commerce platforms, the reports said.

Simon and Brookfield are also among Forever 21's top unsecured creditors.

Forever 21, founded in 1984 and based in California, filed for bankruptcy protection in September and has since closed 100 stores.