$Sequential Brands Group (SQBG.US)$ The company determined t...

The company determined that it could no longer manage its brand portfolio because of the huge amount of debt on its corporate balance sheet. Accordingly, at the time of filing, the Company will sell all or substantially all of its assets under Section 363 of the United States Bankruptcy Code. The Company will seek court approval for the auction and bidding process, which is designed to maximize the value of the Company's assets through an open process to enable interested buyers to bid on the company's assets. The Company believes that each of its brands is profitable and profitable under the management of the new owners.