REPORT: Bankrupt Forever 21 acquired by Authentic Brands

REPORT: Bankrupt Forever 21 acquired by Authentic Brands
Forever 21 logo (Source: Associated Press)

(WAFB) - The bankrupt teen fashion retailer Forever 21 has been acquired by three companies, according to a report from Reuters.

Authentic Brands Group and Simon Property Group Inc will own 37.5 percent of Forever 21 and Brookfield Property Partners LP will own the remaining 25 percent of the business.

Reuters reports that Forever 21 will continue to operate its 593 stores in 57 countries in the U.S. and across the globe.

Forever 21 filed for Chapter 11 bankruptcy protection in September.

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