Two malls can invest in the bankrupt teenager Forever 21.
The dealer applied for bankruptcy protection on Sunday morning and recently tried to cut a deal where the two largest landlords, Brookfield Property and Simon Property, would take a stake, according to the New York Post.
The reason is that Forever 21 uses a lot of mall space with its 541 stores. The nationwide closure of 178 locations would leave big gaps in shopping malls.
Negotiations between the dealership, Brookfield and Simon are considered dead for now as they reached an impasse over the weekend.
Reps for Simon, Brookfield and Forever 21
Forever 21 plans to close 350 of its 800 stores worldwide, including most of its operations in Asia and Europe, according to court documents.
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Three years ago, Simon and mall operators GGP, now owned by Simon, rescued the Aeropostale youth chain from bankruptcy instead of meeting darkly 740 stores.