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. Adjusted earnings before interest, taxes, depreciation and amortization. According to the court filings, Centric assigned all of its rights under the purchase agreement to JJWHP LLC. Included in the third-quarter 2020 figures was a 3.7 million gain on the sale of Martha Stewart and Emeril Lagasse brands. The second agreement was with Centric Brands LP for the purchase of Joe's Jeans and Caribbean Joe brands. 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. The company, which also owns Joe’s Jeans and activewear brand Avia, has seen revenues decline since. A former division president of the company who left the company Jan. Sequential Brands filed for bankruptcy protection on Aug. 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. (NASDAQ:SQBG), together with its wholly-owned subsidiaries that own, manage and license a large-scale and. ![]() 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. On August 31, 2021, Sequential Brands Group, Inc. The bankruptcy court overseeing the Chapter 11 proceedings of Sequential Brands Group Inc. According to the New York Post, Sequential had been shopping around the Martha businesswhich also includes the Emeril Lagasse brand purchased by Stewart in 2008for some time and was turned off. Sequential Brands has been under forbearance with its lenders since late 2020 after it said it wouldn’t be able to meet certain financial metrics required under its debt agreement due to the pandemic.
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