February 11, 2020
Less than two months after a lender-required revaluation "cratered" its Chapter 11 budget and borrowing ability, Forever 21 secured a Delaware judge's tentative approval Tuesday for an $81.1 million company sale, leaving in doubt recoveries for those holding $130 million in administrative claims.
February 10, 2020
Bankrupt fast-fashion retailer Forever 21 canceled an auction it had planned to hold Monday after it received no firm bids, a development that appears to pave the way for an $81 million sale to its landlords.
February 04, 2020
Bankrupt fast-fashion retailer Forever 21 gained court approval Tuesday in Delaware for its proposed sale procedures after agreeing to reduce bid protections that would be owed to its $81 million stalking horse bidder as requested by the court.
February 03, 2020
Bankrupt fast-fashion retailer Forever 21 Inc. has told a Delaware bankruptcy court it has secured a more than $81 million stalking horse bid for its assets from a consortium of Authentic Brands Group and mall landlords Simon Property Group and Brookfield Properties.
November 05, 2019
Bankrupt fast-fashion retailer Forever 21 negotiated more than $100 million in rent concessions with landlords that have enabled it to keep more than half of its struggling stores open, attorneys told a Delaware judge Tuesday.