After snapping up 14 former Mervyns leases last year, Forever 21 Inc. is at it again.
The Los Angeles retailer, known for its hip, affordable clothing, has agreed to buy three former Gottschalks stores and to take over as many as 14 of the bankrupt department store chain's leases, Forever 21 Executive Vice President Larry Meyer said Thursday.
"We're pleased with the opportunity to provide our fashion merchandise to a wider array of customers and to provide jobs at this difficult time," he said.
The deal would have to be approved during a bankruptcy auction scheduled for Thursday, and other parties can still submit higher offers. Among the leases that Forever 21 hopes to acquire are locations in Riverside, Bakersfield and Hemet, Meyer said.