By  on February 12, 2020

Forever 21’s $81.1 million sale to Authentic Brands Group and landlords Simon Property Group and Brookfield may give the retailer another shot at staying in business, but the deal creates more uncertainty for vendors.

On Tuesday, Tyler Cowan, managing director at Lazard Frères & Co. LLC and Forever 21’s investment banker, estimated to the Delaware bankruptcy court on the case that the fast-fashion retailer owes more than $120 million to vendors for goods and services they provided during the bankruptcy, known as administrative expenses. The retailer also owes more than $10 million in administrative expenses to non-merchandise vendors, Forever 21’s advisers told the court. 

To continue reading this article...

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers