![]() ![]() Jessica and Tina currently own 37.5 percent of the brand. In 2015, Sequential acquired a majority stake in the label, with the Camuto Group continuing to produce the collection’s footwear. Jessica Simpson told FN last month she and her mother were closing in on a deal to buy back the remaining 62.5 percent of her brand. The company, which also owns Joe’s Jeans and activewear brand Avia, has seen revenues decline since. It also sold its Heeling Sports brand BBC International for $11 million in April. Sequential Brands filed for bankruptcy protection on Aug. brands to the GMA Group for a total of $20 million in August. Sequential sold the Ellen Tracy and Caribbean Joe Island Supply Co. To pay back lenders, the company sold some of its brands this year. (Galaxy) for 100 million in cash, 13. “We are thrilled to support this team and advance the Galaxy partnership as the company expands and future acquisition opportunities present themselves.”Īccording to financial documents, Sequential had an outstanding net debt of $452.3 million as of Dec. (NASDAQ:SQBG) (Sequential or the Company) announced today that it has signed a definitive agreement to acquire Galaxy Brand Holdings, Inc. Esses and his team distinguishes this investment,” said Allan Weinstein, managing partner of Gainline. “The rich heritage of these brands combined with the passion, experience and unrivaled track record of Mr. The company said that “significant debt on its corporate balance sheet” made it no longer able to operate its portfolio. ![]() Sequential Brands Group, Inc., which also owns the Jessica Simpson and Joe’s Jeans brands, filed for Chapter 11 bankruptcy protection in August. and Longfin Corp., previously were charged by the SEC for filing fraudulent financial statements prior to. The two clients, Sequential Brands Group, Inc. “Galaxy is able to provide great brands, unique designs and upgraded quality at exceptional values.” The Securities and Exchange Commission today charged audit firm CohnReznick LLP with improper professional conduct on engagements for two clients in 2017. “In this ever-changing marketplace, we are strategically positioned to deliver on the customers’ constantly evolving expectations,” said Galaxy chief executive officer Eddie Esses. Global investment firm KRR, which led debt financing for the deal, will serve as a co-investor. Galaxy is a portfolio company of Gainline Capital Partners, a private equity firm. The company also owns Hi-Tec, Interceptor, Magnum, Tony Hawk and is a licensee of the Justice, London Fog, And1 and Avia brands. Bloomberg TV+ Bloomberg Balance of Power Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Bidens administration. The New York-based Galaxy markets, designs, sells, sources and manufactures athletic and work footwear in over 40,000 stores. Galaxy was initially poised as the stalking horse bidder for the brands after it bid $333 million in August. Inside Brandon Blackwood's Fall 2022 Collection and First Virtual Fashion Show ![]()
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