Forever 21 Inc. is moving forward with a sale to a group of buyers that includes Simon Property Group Inc. after no rival bidders qualified to challenge the offer, according to court filings, the Wall Street Journal reported. A group made up of Forever 21’s biggest landlords — Simon and Brookfield Property Partners LP — along with Authentic Brands Group LLC, a brand licensing firm, has offered $81 million for the bankrupt fast-fashion retailer. Forever 21 said on Sunday that it was scrapping a planned auction for yesterday after it didn’t receive any other qualified offers. The landlord takeover is similar to Simon Property’s acquisition of mall-based retailer Aéropostale Inc. in 2016. In that sale, the real-estate investment trust teamed with Authentic Brands and General Growth Properties on the deal.
