![]() JJWHP LLC is an affiliate of WH Buyer LLC and is also the and buyer of the company's William Rast brand.Īccording to court filings, the aggregate price of the JJWHP agreements is $48.5 million.įinally, the company will sell its 62.5% interest in its brand bearing Jessica Simpson's name, which includes footwear, apparel and household products, to With You Inc., which is owned by Simpson and already owns a 37.5% interest in the brand, for $65 million. ![]() (Sequential or the Company), alleges as follows: OVERVIEW 1. According to the court filings, Centric assigned all of its rights under the purchase agreement to JJWHP LLC. Plaintiff, the United States Securities and Exchange Commission (SEC), for its Complaint against Defendant Sequential Brands Group, Inc. The second agreement was with Centric Brands LP for the purchase of Joe's Jeans and Caribbean Joe brands. Sequential seeks to ensure that its brands continue to thrive and grow by employing strong brand management, design and marketing teams. 1 and a former partial owner and manager of the firm from which the company acquired the active division assets hold a minority interest in Galaxy. Sequential bought the majority share from Camuto Group in 2015 but filed for Chapter 11 bankruptcy protection in August and has been rapidly selling off its portfolio.) It means the absolute. (Nasdaq: SQBG) owns, promotes, markets, and licenses a portfolio of consumer brands in the fashion, active, and lifestyle categories. A former division president of the company who left the company Jan. (NASDAQ:SQBG) owns, promotes, markets, and licenses a portfolio of consumer brands in the lifestyle, fashion, active. ![]() The first agreement was with Gainline Galaxy Holdings for the company's active division assets for total consideration of $333 million, comprising $55.5 million in cash, the issuance to holders of the company's term loan B an amount equal to 11.3% of the buyers' outstanding series A and series B units valued at $50 million, and $227.5 million of debt in the buyer, plus the assumption of certain liabilities.Ī unit of Gainline, Galaxy Universal manages the division pursuant to a management agreement. 3 approved four transactions for the sale of the company's assets for an aggregate purchase price of $446.5 million, plus the assumption of certain liabilities, according to orders filed in the case.Īpproval of the sales was expected. The bankruptcy court overseeing the Chapter 11 proceedings of Sequential Brands Group Inc. ![]()
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