Deal Done, Forever 21 Buys Gadzooks

Los Angeles, Forever 21 said its new wholly owned subsidiary Gadzooks 21 has completed the previously announced acquisition of Gadzooks. In this transaction, Gadzooks 21 purchased substantially all of Gadzooks’ operating assets, including its inventory and 150 of Gadzooks’ retail stores located in 36 states. The sale of Gadzooks’ assets was subject to a competitive auction and the approval of the Bankruptcy Court for the Northern District of Texas.