By  on February 4, 2020

The $81 million bid for Forever 21 took another step forward. 

At a hearing in Delaware bankruptcy court on Tuesday, the cash-strapped retailer persuaded the judge to approve the terms of the $81.1 million stalking horse bid earlier this week by Authentic Brands Group and landlords Simon Property Group and Brookfield. The agreement sets the baseline for any other potential competing bids coming in, and sets a short deadline for them to arrive before a sale hearing that is tentatively scheduled for next week.

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