Sequential Brands Group Files for Chapter 11 Bankruptcy - NewsBreak

Sequential Brands Group, Inc. has filed for Chapter 11 bankruptcy protection. The company, which owns the Jessica Simpson, Joe's Jeans, And1, Avia and more brands, said in a press release that "significant debt on its corporate balance sheet" made it no longer able to operate its portfolio. Sequential struggled through debt and multiple executive shuffles in recent years. CEO David Conn resigned in October of 2020. In March of 2021, four board members resigned after Sequential gave one of its lenders, Wilmington Trust, the right to appoint a majority of Sequential Brands' board. Martha Stewart, whose brand was sold to Marquee Brands...