Forever 21 being sold for $81 million

Business

After months of financial trouble, the retail chain is being bought out by Simon Property Group, Brookfield Property Partners, and Authentic Brands Group.

(FOX NEWS) — Forever 21 finalizing a deal to sell the company’s assets.

The struggling, fast-fashion retailer is being sold for $81-million.

This, after several months of financial problems.

The company is selling it’s assets to three companies mall owners Simon Property Group and Brookfield Property Partners and Brand Management Company, Authentic Brands Group.

According to a court filing on Sunday, the purchase includes the remaining Forever 21 stores as well as the Riley Rose Beauty line.

The chain has closed 100 locations since filing for bankruptcy protection back in September.


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