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Retail news from around the globe

New owners rescue Forever 21 US teen fashion retailer Forever 21 has been saved from bankruptcy by three new owners with big plans for its future. Brand management company Authentic Brands and mall owner Simon Property are to own 37.5 per cent each of the retailer, while Brookfield Property is to buy 25 per cent of the intellectual property and operating businesses. Forever 21 went into Chapter 11 bankruptcy protection last September. The new owners will seek to keep most of the chain’s 448 US