Forever 21 receives court approval of $81.1 million sale to consortium

By Caroline Salls

Pittsburgh, Feb. 13 – Forever 21, Inc. received court approval of the $81.1 million sale of substantially all of its assets, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, Forever 21 canceled the auction and asked the court to approve the sale to stalking horse bidder SPARC Group F21, LLC.

SPARC is a consortium of Simon Property Group, Brookfield and Authentic Brands Group.

Forever 21 is a Los Angeles-based fast fashion retailer. It filed bankruptcy on Sept. 29 under Chapter 11 case number 19-12122.

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