PETITION

Forever21 Inc. is forever filing motions to reject sh*t. On Friday, the company followed up its Store Closing Motion (which, itself, had two supplements) with its fourth rejection motion of non-residential real property leases. By our count, somewhere between 100-150 different lease (or sublease, as the case may be…looking at you Belk Inc.) counterparties have been affected now by the bankruptcy. That’s a lot of landlords and lessors looking for tenants and subtenants, respectively.

https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_ae705b84-f33d-40e0-9eb1-552ee80c8185_297x170.jpeg

Who is bearing the brunt of this? By our count (in approximate numbers):

TO SEE OUR PREMIUM INSIGHTS ON WHICH MALL REITS ARE GETTING SH*T ON BY FOREVER21 & MORE, CLICK HERE TO SUBSCRIBE (ISN’T TIME YOU GOT AHEAD? DISRUPT YOUR COMPETITION WITH PETITION!)