Global Brands Group’s U.S. subsidiary, GBG USA Inc., and 10 related businesses have filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York, citing assets and liabilities ranging from $1 billion to $10 billion. The group’s global brand management and European wholesale businesses are separate entities and not included in the filing. After the company’s wholesale and retail businesses were hit hard by the Covid-19 pandemic and supply chain disruptions further hampered business, the company had divested brands, including Spyder USA inventory and related assets to Liberated Brands, part of the Authentic Brands Group, and the South Korean Spyder business to Alpha Vista Investment Co, prior to the filing. The list of GBG USA’s creditors includes a number of factories and rental companies, but some of the most important are the brand owners who have licensed their brands to GBG USA, including Kenneth Cole Productions as the largest creditor with claims of $6,000,000; Authentic Brands with $3,561,713; Brand Matter, which is affiliated with the Sequential Brands Group, with $1,997,412; Dakine IP Holdings with $860,000; JLO Holding Company, with $359,900; and All Saints Retail with $244,783.

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