The bankrupt Sequential Brands Group is now expected to be able to pay its $435.1 million in liabilities through the auction of its assets. With You, a company that owns a 37.5 percent interest in the Jessica Simpson brand, has launched a bid for the remaining shares owned by SQBG for $65 million. As previously reported, Galaxy Gainline Holdings has offered to pay $333 million for the group’s active brands – And1, Avia, Gaiam and Spri – while Centric Brands is ready to pay $45 million for Joe’s Jeans. All these “stalking horse bids” are subject to higher offers from other parties in the asset auction set for Oct. 28.

Topics