Reuters – Forever 21 has a new lease on life after Simon Property Group Inc., Brookfield Property Partners LP and Authentic Brands Group agreed to acquire the bankrupt teen fashion retailer.
Forever 21, which has 815 stores in 57 countries, will continue to operate in U.S. and international markets, Authentic Brands said. The retailer has four St. Louis-area locations.
The retailer’s current operations in Central America, South America, Mexico, the Philippines and the Caribbean would be converted to a licensed partnership model.
The new owners are also working with existing and new partners to expand Forever 21 across key territories, including South America, China, the Middle East and India, Authentic Brands said.
Financial terms of the deal were not disclosed.