Struggling fast-fashion retailer Forever 21 Inc. is in talks to possibly sell a stake to two of its largest landlords, Simon Property Group Inc. and Brookfield Property Partners LP, Bloomberg News reported, citing people with knowledge of the matter.
The proposed stake sale is part of a restructuring that would enable Forever 21 co-founder Do Won Chang to keep a stake in the company, which is readying to file for bankruptcy as soon as September, the unnamed sources told the news outlet.
Bloomberg could not get a comment on the matter from Forever 21, Simon Property or Brookfield.
