Bankrupt fashion retailer Forever 21 asked a court to approve an auction, an option it hopes would keep it from liquidation. Forever 21 has been engaging in “substantial, round-the-clock negotiations” with an unnamed stalking-horse bidder and asked the court to approve the sale of “substantially all” of its assets, according to Bloomberg. The retailer’s lawyers requested a sale hearing on Feb. 4, with the ultimate goal of reaching a deal that would keep Forever 21
source https://therealdeal.com/2020/01/31/to-stay-in-business-bankrupt-forever-21-seeks-auction/
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