Simon Property, Authentic Brands Said to Mull Buying Forever 21

Mall owner Simon Property Group is considering a bid to buy Forever 21 Inc., the bankrupt teen retailer that’s running out of money and time, according to people with knowledge of the matter.

Simon would pair with Authentic Brands Group LLC to buy and operate the stores and the brand, said the people, who asked not to be identified because the discussions are private. The talks are continuing, and there’s no guarantee that the various sides will agree on terms or that a sale will result.

Representatives for Los Angeles-based Forever 21 and Simon didn’t respond to messages seeking ...