New York, NY – March 1, 2020 – RCS Real Estate Advisors would like to congratulate our valued client Forever21 for a successful restructuring and emergence from bankruptcy. RCS expanded their retention when the new ownership group asked RCS to go back on deals for stores they wanted to keep. The New York consulting firm was able to provide nearly $500 million in savings as the company endured the financial stress due to the COVID19 pandemic. President and CEO Ivan Friedman was thrilled that RCS could play a part in this notable turnaround: “It was a pleasure working with Forever 21 and the landlord community to help save this fast fashion pioneer”.
ABOUT FOREVER 21: Founded in 1984, Forever 21, Inc., headquartered in Los Angeles, California, is a fashion retailer of women’s, men’s and kids clothing and accessories and is known for offering the hottest, most current fashion trends at a great value to consumers. This model operates by keeping the store exciting with new merchandise brought in daily. For more information, please click here.
About RCS Real Estate Advisors: RCS Real Estate Advisors was founded in 1981 by professionals with decades of retail experience. The firm specializes in analyzing retail real estate portfolios, reducing occupancy costs, and expanding footprints. Key transactional services include portfolio assessments, renewals, lease restructuring, terminations, dispositions and site selection. RCS also operates as an outsourced real estate department for some of their clients, providing continuous management of portfolios to ensure the real estate performs at its optimal level.