No. of Recommendations: 5
Simon Property considers bid for Forever 21

Simon Property Group (NYSE:SPG) is considering a bid to buy bankrupt teen retailer Forever 21, Bloomberg reports, citing people with knowledge of the matter.

Mall owner Simon would team up with Authentic Brands Group to buy and run the stores and the brand.

Talks are ongoing and there's no guarantee that they'll agree on terms or that a sale will actually occur.

Before Forever 21 filed for bankruptcy, it had entered talks with Simon and Brookfield Property Partners, its other largest landlord, Bloomberg had reported. Forever 21 filed for court protection after the talks broke down.

Forever 21 warned suppliers that it was running short on cash and could be forced to liquidate if a buyer didn't emerge.

It has asked suppliers to ship goods on credit while talks continue with a potential buyer, which it didn't name, adding that it would provide information on the buyer in coming weeks.

After reading this I took SPG off my watchlist.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.