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image credit: Dan DeLuca / Flickr

Forever 21’s $81M sale wins court approval

February 12, 2020

The list of stakeholders who objected ahead of Tuesday’s hearing ran into the dozens. Landlords and suppliers alike are concerned they will lose millions as Forever 21 sells to the buyer group for $81 million, a relatively paltry price for a retailer that at its peak made $4 billion in annual sales.

That pot of money has to be spread around numerous creditors. One group of overseas suppliers, who filed a limited objection against the sale Tuesday, said they are owed roughly $40 million for goods shipped to Forever 21 since it filed for Chapter 11.

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