![]() In 2016, Simon was part of a group that put up $243 million to save tween and teen apparel retailer Aeropostale from bankruptcy court. Simon has good incentive to solve the problems: It is one of Forever 21's largest landlords, with 98 Forever 21 stores at its malls and outlet centers. It faces heightened competition from other fast-fashion retailers such as Zara, H&M and Uniqlo. The apparel retailer's sales started to slump as the business expanded too rapidly overseas, sparking supply-chain complications. A successful bid, among other things, would allow Simon to keep its Forever 21 stores open.įorever 21 still faces its own struggles, which Simon, with the help of Brookfield and Authentic Brands, will be tasked with fixing. Forever 21 said this past Sunday that it was canceling a planned auction, after no other bidders emerged, inching Simon's plan one step closer to approval. mall owner Brookfield Property Partners and Barneys owner Authentic Brands Group - has made an $81 million, stalking-horse bid to rescue Forever 21, which filed for bankruptcy last September. The real estate owner has a market cap of about $44.8 billion. ![]() Simon shares are down about 24% over the past 12 months. Macerich shares are down nearly 48% from a year ago, Washington Prime Group shares are down almost 50%, and CBL 's stock has tanked 68%. Investors fear that as store closures pile up, the real estate owners won't be able to fill spaces quickly enough, losing out on rent income. The news comes as America's mall owners are faced with some of the most pressure they have ever seen, with retail store closures mounting and bankruptcies rising as more consumers shop online from their couches. "We have zigged when others have zagged," Simon CEO David Simon told analysts during a call earlier this month. 31, Simon had over $7.1 billion of liquidity, including cash on hand. And in buying Forever 21, Simon is proving it has the strong balance sheet to make a risky bet or two. With Taubman, Simon is doubling down on its thesis that the best and most profitable malls in America will survive, analysts say. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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