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.


https://seekingalpha.com/news/3534479-simon-property-conside...

After reading this I took SPG off my watchlist.

David
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