The company plans to hold an auction to sell its brands, including The Jessica Simpson Collection, Gaiam, Avia, Joe’s Jeans, And1, Spri, and William Rast.
A tentative deal was made between Sequential and the Simpson family just before the bankruptcy filing. Sequential is working on a deal where the Simpson family would be the stalking horse bidder at the brand’s auction. The agreements with Galaxy Active and Centric Brands, also partners of Sequential, are still subject to court approval. Galaxy Active would make an initial bid of $333 million for Sequential’s active division, while Centric Brands would offer $42 million for the Joe’s Jeans label.
The Jessica Simpson Collection, initially launched as a shoe line in collaboration with Vince Camuto in 2005, has expanded to include apparel, accessories, homeware, and fragrances.