Forever 21 Inc.’s new owners plan to keep most of the fast-fashion chain’s U.S. stores open under a new chief executive in the coming weeks when the company emerges from bankruptcy, Bloomberg News reported. Owners Authentic Brands Group, Simon Property Group Inc. and Brookfield Property Partners are talking with other landlords about keeping as many of the 448 U.S. stores in business as possible, Authentic CEO Jamie Salter said in an interview. Forever 21 is interviewing three CEO candidates and will name a new one soon, Salter said. Forever 21 filed for bankruptcy in September after struggling with large, expensive locations and losses in some international markets, while dealing with the effects of the same online competition that has forced U.S. retailers to close thousands of stores in recent years. The new owners agreed to pay $81 million and assume certain liabilities as part of the purchase. The company is planning to launch or expand wholesale lines in jewelry, footwear and handbags, Salter said. It’s also planning to expand the Riley Rose beauty brand. Salter envisions “multiple” collaborations with other brands, both his own and outside ABG.
