{"id":333052,"date":"2021-08-31T22:08:36","date_gmt":"2021-08-31T19:08:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jessica-simpson-brand-owner-sequential-brands-files-for-bankruptcy\/"},"modified":"2021-08-31T22:08:36","modified_gmt":"2021-08-31T19:08:36","slug":"jessica-simpson-brand-owner-sequential-brands-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jessica-simpson-brand-owner-sequential-brands-files-for-bankruptcy\/","title":{"rendered":"#Jessica Simpson brand owner Sequential Brands files for bankruptcy"},"content":{"rendered":"<p>&#8220;<strong>#Jessica Simpson brand owner Sequential Brands files for bankruptcy<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Sequential Brands, which owns the Jessica Simpson brand and had formerly owned Martha Stewart\u2019s brand, filed for bankruptcy protection on Tuesday.<\/p>\n<p>The New York-based licensing company said its \u201csignificant debt\u201d of $435 million pushed it into Chapter 11 \u2014 an outcome that had been long rumored and first reported by The Post.<\/p>\n<p>The company\u2019s stock fell by more than 60 percent after the announcement and trading was halted for a time; it was trading down more than 50 percent in late afternoon trade.<\/p>\n<p>Sequential said it secured $150 million in financing that will support its operations while it tries to sell its seven brands, which until 2019 had included domestic diva, Martha Stewart.<\/p>\n<p>The filing in Wilmington, Del., leaves its remaining brands\u00a0 \u2014 Joe\u2019s Jeans, activewear brand Gaiam and Avia, SPRI, AND 1 and William Rast, in flux.\u00a0<\/p>\n<p>Simpson, for one, had been trying to snatch her company back before the filing, but failed to raise enough to acquire her clothing line. Sequential acquired a 62.5 percent stake worth $117 million in Jessica Simpson in 2015.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-08.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Jessica Simpson dresses on display in a store.\" class=\"wp-image-19303551\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-08.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-08.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-08.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Jessica Simpson brand is sold in department stores including Macy\u2019s and Nordstrom.<\/figcaption><figcaption><span class=\"credit\">Getty Images for Jessica Simpson<\/span><\/figcaption><\/figure>\n<p>The company was able to unload a few other brands before the filing, including Caribbean Joe and Ellen Tracy for $20 million earlier this month as well as Heelys for $11 million in April.\u00a0<\/p>\n<p>After several years of losing money on the Martha Stewart brand, Sequential sold it in 2019 for $213 million, or $140 million less than what it had paid for it in 2015.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"682\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-06-Simpson-and-Stewart.jpg?quality=90&amp;strip=all&amp;w=682\" alt=\"Martha Stewart and Jessica Simpson stand next to each other with their arms around each others' waists.\" class=\"wp-image-19303590\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-06-Simpson-and-Stewart.jpg?quality=90&amp;strip=all&amp;w=1364 1364w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-06-Simpson-and-Stewart.jpg?quality=90&amp;strip=all&amp;w=1022 1023w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-06-Simpson-and-Stewart.jpg?quality=90&amp;strip=all&amp;w=682 682w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-06-Simpson-and-Stewart.jpg?quality=90&amp;strip=all&amp;w=341 341w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-06-Simpson-and-Stewart.jpg?quality=90&amp;strip=all 1024w\" sizes=\"auto, (max-width: 682px) 100vw, 682px\"\/><figcaption>Sequential Brands acquired both the Jessica Simpson and Martha Stewart brands in 2015.<\/figcaption><figcaption><span class=\"credit\">WireImage<\/span><\/figcaption><\/figure>\n<p>Stewart, however, remained on the board, becoming the company\u2019s second-largest shareholder, owning 10.9 percent of the company. Its largest shareholder is Tengram Capital Partners, which is run by Sequential\u2019s former chairman, Bill Sweedler, who resigned in May as it became clear that the company was headed toward bankruptcy.<\/p>\n<p>Stewart resigned from the board in March and began dumping some of her shares in June, as The Post reported, attracting the attention of industry insiders who questioned why a former board member would sell shares in advance of a potential bankruptcy filing that was discussed by the board.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"701\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-02-small-Stewart-photo.jpg?quality=90&amp;strip=all&amp;w=701\" alt=\"Headshot of Martha Stewart smiling.\" class=\"wp-image-19303675\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-02-small-Stewart-photo.jpg?quality=90&amp;strip=all&amp;w=1402 1402w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-02-small-Stewart-photo.jpg?quality=90&amp;strip=all&amp;w=1052 1051w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-02-small-Stewart-photo.jpg?quality=90&amp;strip=all&amp;w=701 701w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-02-small-Stewart-photo.jpg?quality=90&amp;strip=all&amp;w=351 350w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-02-small-Stewart-photo.jpg?quality=90&amp;strip=all 1024w\" sizes=\"auto, (max-width: 701px) 100vw, 701px\"\/><figcaption>Martha Stewart resigned from the Sequential board in March and began selling her shares in the company in June.<\/figcaption><figcaption><span class=\"credit\">Alamy Stock Photo<\/span><\/figcaption><\/figure>\n<p>Stewart\u2019s attorney told The Post that she \u201chad no material nonpublic information, her transactions were fully compliant with <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>licable rules and any speculation to the contrary is simply meritless innuendo.\u201d<\/p>\n<p>She bagged more than $500,000 in several trades over the summer.\u00a0<\/p>\n<p>Buyout firm KKR is Sequential\u2019s largest lender.<\/p>\n<p>The company is also facing charges by the Securities and Exchange Commission which has accused Sequential of violating accounting practices in 2016 and 2017.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/08\/31\/jessica-simpson-brand-owner-files-for-bankruptcy\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Jessica Simpson brand owner Sequential Brands files for bankruptcy&#8221; Sequential Brands, which owns the Jessica Simpson brand and had formerly owned Martha Stewart\u2019s brand, filed for bankruptcy protection on Tuesday. The New York-based licensing company said its \u201csignificant debt\u201d of $435 million pushed it into Chapter 11 \u2014 an outcome that had been long rumored&#8230;<\/p>\n","protected":false},"author":1,"featured_media":333053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/jessica-simpson-brand-09-feature.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[115157,4978,73676,48427,104493],"class_list":["post-333052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-31-21","tag-bankruptcy","tag-jessica-simpson","tag-martha-stewart","tag-sequential-brands"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/333052","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=333052"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/333052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/333053"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=333052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=333052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=333052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}