Bankrupt and loving it: Welcome to the lucrative world of undead brands

In 2019, Barneys New York went under. But its name lives on under a new owner that specializes in buying and recharging dying brands. (Spencer Platt/Getty Images)

Can there be life after death? For many retailers, the answer is yes.

Take Forever 21. Four years ago, the chain filed for bankruptcy. In 2020, it was bought out of bankruptcy by an unusual team: America's largest mall operators and a firm called Authentic Brands Group.