If you're trying to delete the entire Favorites folder that probably won't delete. If you're selecting individual folders or files (links) contained within the Favorites folder, and you're an administrator, and it's your account they should delete.
You can also manage this from within IE itself rather than via File Explorer, and that might be easier to do. I don't use IE or Edge regularly, but have used IE enough in the past to know that it allows you to add and delete from your Favorites at will (at least it does from within IE itself).
Also, if you had to tweak permissions and have not rebooted since doing so, that's the first thing I'd do. I've seen files that "can't be deleted" become mysteriously able to be deleted after system reboot. I attribute that to a lock not being cleared somewhere that ends up being cleared upon reboot.
Edited by britechguy, 04 November 2015 - 03:05 PM.
Brian AKA Bri the Tech Guy (website in my user profile) - Windows 10 Home, 64-Bit, Version 1803, Build 17134
In a modern society where everyone thinks their opinion deserves to be heard nothing annoys me more than individuals who mistake their personal preferences for fact.
~ Commenter TheCruyffGurn on the The Guardian website, 8/13/2014