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Jessica Simpson bid $65M in a last ditch effort to buy back her 16-year-old brand the day before its licensing company filed for Chapter 11 bankruptcy protection Tuesday.
Sequential Brands Group Inc. will hold an auction to attract investors for all of its brands, and other lead bidders include Galaxy Active and Centric Brands - according to Bloomberg.
Sequential - listing debts of $435M and assets of $443M - blamed its bankruptcy on falling revenue from licensing deals and the coronavirus pandemic.
Jessica Simpson bid $65M in a last ditch effort to buy back her 16-year-old brand the day before its licensing company filed for Chapter 11 bankruptcy protection Tuesday (pictured March 31)
In debt by $435M: Sequential Brands Group Inc. will hold an auction to attract investors for all of its brands, and other lead bidders include Galaxy Active and Centric Brands
'It's possible that Jessica Simpson is outbid,' bankruptcy attorney Kenneth Rosen told the New York Post on Thursday. 'She is the first bidder unless someone wants to top her bid.'
JSC is a family affair for the 41-year-old clothing mogul, whose mother Tina serves as president and younger sister Ashlee helped launch
