Forever 21 reaches deal to sell for $81 million amid bankruptcy crisis
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Forever 21 has reached a deal to sell off its assets for $81 million, four months after filing for Chapter 11 bankruptcy. According to a Sunday court filing, the struggling fast-fashion retailer would be sold to a consortium made up of mall operators Simon Property Group and Brookfield Properties and brand management firm Authentic Brands Group. The group has been designated as the "stalking horse bidder" for Forever 21.