Forever 21, A Clothing Retailer That Filed For Bankruptcy Last Year, Was Acquired By Three Big Giant

Brand management company Authentic Brands announced on Wednesday that it would acquire 37.5% of Forever 21 with Simon Property Group and Brookfield Property Group will acquire 25%. Financial terms of the transaction were not disclosed. Forever 21 has 593 stores in 57 countries. Authentic Brands said the company would continue to operate in the US and international markets.