Jessica Simpson buys her name back from Sequential Brands

Singer-turned-entrepreneur Jessica Simpson has plans to buy her brand back from bankruptcy after owner Sequential Brands filed for bankruptcy. The news was reported by Bloomberg. The Simpson family has put up a 65 million dollar offer for the Jessica Simpson brand, and with Sequential Brands Group Inc.’s older brands being put up for auction, it looks like Simpson will be owning her brand name soon.

Prior to Sequential seeking court protection from creditors, a potential deal was made with the Simpson family. Sequential attorney Joshua Brody told Bloomberg that a final agreement will be made for the Simpson family to act as a stalking horse bidder at an auction.

Sequential has found itself in dire straits after multiple quarters of declining revenue from licensing deals and the pandemic hurting their brands sales. The company filed Chapter 11 Bankruptcy in Wilmington, Delaware, and listed debts of 435 million dollars and 443 million dollars’ worth of assets.