Mega mall owners mull investing in Forever 21 after bankruptcy
Mega mall owners mull investing in Forever 21 after bankruptcy
Two mall titans may invest in the bankrupt teen retailer Forever 21. The retailer filed for bankruptcy protection on Sunday morning and recently tried to cut a deal in which its two largest landlords, Brookfield Property and Simon Property, would take an ownership stake, according to the New York Post. The reason is Forever 21 uses a lot of mall space with its 541 stores. The nationwide closure of 178 locations would leave big holes at shopping malls. Negotiations between the retailer, Brookfield, and Simon reached an impasse over the weekend and are considered dead -- for now.
Two mall titans may invest in the bankrupt teen retailer Forever 21. The retailer filed for bankruptcy protection on Sunday morning and recently tried to cut a deal in which its two largest landlords, Brookfield Property and Simon Property, would take an ownership stake, according to the New York Post. The reason is Forever 21 uses a lot of mall space with its 541 stores. The nationwide closure of 178 locations would leave big holes at shopping malls. Negotiations between the retailer, Brookfield, and Simon reached an impasse over the weekend and are considered dead -- for now.
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