{"id":242122,"date":"2021-05-04T22:50:27","date_gmt":"2021-05-04T19:50:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jessica-simpson-scrambles-to-rescue-her-clothing-label\/"},"modified":"2021-05-04T22:50:27","modified_gmt":"2021-05-04T19:50:27","slug":"jessica-simpson-scrambles-to-rescue-her-clothing-label","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jessica-simpson-scrambles-to-rescue-her-clothing-label\/","title":{"rendered":"#Jessica Simpson scrambles to rescue her clothing label"},"content":{"rendered":"

“#Jessica Simpson scrambles to rescue her clothing label<\/strong>”<\/p>\n

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Jessica Simpson is scrambling to buy back her clothing brand from a struggling licensing company that is in danger of filing for bankruptcy, The Post has learned.<\/p>\n

The 40-year-old former pop singer and her mother, Tina Simpson, are working with boutique investment bank Threadstone to raise cash to buy back the Jessica Simpson Collection from Sequential Brands, a licensing firm whose executive chairman has stepped down amid chaos at the company, according to a source.<\/p>\n

William Sweedler, who launched Sequential a decade ago, resigned as executive chairman over the weekend, according to a regulatory filing, to \u201cpursue other matters.\u201d Sweedler\u2019s resignation, the filing said, \u201cdid not involve a disagreement with the company on any matter relating to its operations, policies or practices.\u201d<\/p>\n

Shares of Sequential Brands \u2014 whose other brands include Joe\u2019s Jeans, Ellen Tracy and Caribbean Joe \u2014 plunged 38 percent to $17.02 on Tuesday.<\/p>\n

\"Jessica
A Jessica Simpson\u2019s spring style event at Dillard\u2019s on May 6, 2017 in Waco, Texas. <\/figcaption>
Kevin Mazur<\/span><\/figcaption><\/figure>\n

Sequential Brands bought a 62.5 percent stake in Jessica Simpson in 2015 for $117 million from Vince Camuto, which had originally bought it for $15 million. Sequential grew it rapidly, with yearly sales at retail topping half a billion dollars before the pandemic, according to a source close to the company.<\/p>\n

Unlike a slew of celebrity brands that launched around the same time in 2005 and flamed out \u2014 including Mandy Moore\u2019s Mblem line, Lindsay Lohan\u2019s Leggings, 6126, and Miley Cyrus\u2019 collaboration with Max Azria for a line at Walmart \u2014 Simpson\u2019s brand has had staying power.<\/p>\n

The Jessica Simpson Collection \u2014 a collaboration among the singer, her mother and sister Ashlee Simpson \u2014 includes a children\u2019s line, home goods and footwear. It has been sold in retail outlets including Macy\u2019s, Nordstrom and Dillard\u2019s.<\/p>\n

\"Jessica
Jessica Simpson introduces \u201cJessica Simpson Collection\u201d at Macy\u2019s Herald Square on November 3, 2007 in New York City. <\/figcaption>
WireImage<\/span><\/figcaption><\/figure>\n

But while the \u201cWith You\u201d singer has been actively promoting her line \u2014 most recently an ad campaign in September<\/a> featured the entertainer with her daughters \u2014 financial problems at Sequential have been mounting as the pandemic has crushed business at department stores. Sequential recently reported a debt burden of $463 million.<\/p>\n

On Friday buyout firm KKR, a second-lien lender to Sequential, named Marjorie Bowen, a distressed retail expert and former managing director at investment bank Houlihan Lokey, to Sequential\u2019s board, effective immedia<\/a>tely \u2014 a move that insiders said looks like a preparation for a possible bankruptcy filing.<\/p>\n

Sequential declined to comment on Tuesday.<\/p>\n

\"Jessica
WireImage<\/span><\/figcaption><\/figure>\n

Sequential sold another high-profile brand, Martha Stewart\u2019s homemaking empire, for $215 million in 2019 \u2014 mostly because the brand was costing the company more than it was worth, as The Post reported.<\/p>\n

WWD first reported that Simpson is in talks with Threadstone to raise capital.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Jessica Simpson scrambles to rescue her clothing label” Jessica Simpson is scrambling to buy back her clothing brand from a struggling licensing company that is in danger of filing for bankruptcy, The Post has learned. The 40-year-old former pop singer and her mother, Tina Simpson, are working with boutique investment bank Threadstone to raise cash…<\/p>\n","protected":false},"author":1,"featured_media":242123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/jessica-simpson-4.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[104401,4978,5014,73676,74329,104493],"class_list":["post-242122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-4-21","tag-bankruptcy","tag-clothing","tag-jessica-simpson","tag-licensing","tag-sequential-brands"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/242122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=242122"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/242122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/242123"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=242122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=242122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=242122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}