Simon Property, Authentic Brands Mull Bid for Forever 21
Simon Property Group and Authentic Brands Group are considering a bid to acquire Forever 21 as it teeters on the edge of liquidation
therealdeal.com
This reminds me of 2 New York stories:
First, there was an owner of a decent amount of small Upper West Side buildings who had been in the heating oil business for a long time. Back in the 1970s when the City was almost bankrupt and buildings were being taken In Rem he would go to owners and offer to take over their building in return for paying off the tax liens and forgiving their outstanding oil bill.
Second, in the late 1980s and early 1990s I was told there was a restaurant meat supplier who would take over the remaining lease on restaurants which had run up big bills and couldn't pay, and then he would leave them exactly as is (no renovation/buildout) and simply change the name to Christine's and serve the same Polish Diner menu at each (which was supposedly why even though it was a chain, no two of them looked alike and they were open for odd lengths of time as opposed to 5 years, 10 years, etc).