Simon Property Group Aims to Save Forever 21
Forever 21, the fast fashion retailer that filed for bankruptcy in September, is dead -- but it may rise from the grave.
Brookfield Property Partners (NASDAQ: BPY) and Authentic Brands Group (ABG) are joining Simon Property Group (NYSE: SPG) to form a venture to save Forever 21 -- bringing the company out of bankruptcy and potentially turning the business around. "If we are successful at turning it around, we will make money at F21 and we will make our rent," Simon Property CEO David Simon said on a morning earnings call Tuesday.
Image source: Getty Images.
Source Fool.com
