Landlords including Brookfield Property Partners and Simon Property Group are bidding $81m for collapsed fashion retailer Forever 21.
Simon and Brookfield, who are Forever 21’s biggest landlords are bidding alongside Authentic Brands Group, which has acquired the licensing rights to other struggling retailers such as Barneys New York, reported Bloomberg.
Los Angeles-based retailer Forever 21 filed for Chapter 11 bankruptcy protection the US in September. In the UK stores in London, Birmingham and Liverpool have since closed, with the company also launching a £30m stock clearance sale.
Other interested parties have until 7 February to provide a higher offer.
The approval for the sale will face a judge on 11 February.