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Lawrence Meyer, senior vice president at Forever 21, declined comment. A spokeswoman for Saks Inc. declined comment.
Forever 21 was considered by several financial bankers as an ideal candidate to buy the girls' chain because it would fit snugly into its business. Earlier this year, Forever 21 purchased the Gadzooks chain.
Other names that have been mentioned as possible buyers of Club Libby Lu are Too Inc., Claire's and Build-A-Bear.
Saks Inc. at a Glance
Nameplates (Number of Stores):
- Saks Fifth Avenue (56)
- Parisian (41)
- Younkers (47)
- Carson Pirie Scott (30)
- Herberger's (41)
- Bergners (14)
- Boston Stores (10)
- Off 5th (50)
- Club Libby Lu (51)
- R. Brad Martin: chairman, chief executive officer
- Stephen I. Sadove: vice chairman, chief operating officer
- James A. Coggin: president, chief administrative officer
- Douglas E. Coltharp: executive vice president, chief financial officer
- Kevin Wills: executive vice president of finance,chief accounting officer
- George L. Jones: president, ceo of Saks Department Store Group, but resigning Sept. 30
- Frederick W. Wilson: chairman, ceo of Saks Fifth Avenue Enterprises