Forever 21 has reached an $81 million deal to sell its retail business to a group that includes Simon Property Group, Brookfield Property Partners and Authentic Brands.
Forever 21 said in a bankruptcy court filing it is seeking approval to name the three as the lead, stalking-horse bidders in an auction.
Rival bidders have until Friday to make any counteroffers, the filing said. If other bids are made, an auction will be held on Feb. 10. Forever 21 is planning to seek approval of the sale by Feb. 11.
