The fashion retailer, Forever 21 has now been successfully bought out of bankruptcy for $80 million (£62 million) by Simon Property Group and Brookfield Property Partners. The two major landlords have also linked up with Authentic Brands – a licensing specialist. Both Brookfield Property Partners and Simon Property Group have agreed to assume some of the liabilities held by Forever 21.

Forever 21 confirmed that it would be closing three stores in the UK in October, last year and the store closures that took place were in London, Liverpool and Birmingham.