According to a report from Bloomberg, Sequential made a tentative deal with the Simpson family the day before seeking court protection. Citing the group’s attorney, Joshua Brody, the report revealed that Sequential is working on a deal through which the Simpson family would act as the stalking horse bidder at the brand’s auction. The company hopes to conclude negotiations in the coming weeks.
In addition, two more of the group’s current partners, Galaxy Active and Centric Brands, have also agreed to be the lead bidders in auctions of other Sequential assets. These deals, which are still subject to court approval, would set a price floor for the brands in question.
If approved, the agreements would see Galaxy Active make an initial bid of $333 million for Sequential’s active division, while Centric Brands, which already holds a long-term license for Joe’s Jeans, would offer $42 million for the label.
First launched as a shoe line in collaboration with Nine West co-founder Vince Camuto in 2005, The Jessica Simpson Collection has since expanded to include apparel, accessories, homeware and fragrances. Via FashionNetwork
