Sequential Has Lead Buyer for Timberlake-Founded William Rast -- Market Talk
Sequential Has Lead Buyer for Timberlake-Founded William Rast -- Market Talk
14:01 ET - Bankrupt licensing business Sequential Brands has a proposed deal to sell its William Rast brand, which was co-founded by entertainer Justin Timberlake, to Millennial Apparel. Sequential sought bankruptcy court permission yesterday to make Millennial the lead bidder in the sale process. Deal terms with Millennial, already a William Rast licensee, include an $800,000 cash payment at closing; a total of $200,000 in cash payments at first and second closing anniversaries; and the assumption of certain liabilities. Originally a denim line, William Rast expanded into sportswear and other categories. Sequential has already found potential buyers for several other brands. (becky.yerak@wsj.com; @beckyyerak)
美国东部时间14：01-破产的许可企业Sequential Brands提出了一项交易，将其由艺人贾斯汀·汀布莱克(Justin Timberlake)共同创立的William Rast品牌出售给千禧年服装(Millyear Apparel)。Sequence昨日寻求破产法院的许可，使千禧一代成为出售过程中的主要竞标者。与已经是William Rast许可证持有人的千禧年的交易条款包括在成交时支付80万美元的现金；在第一和第二个成交周年纪念日总共支付20万美元的现金；以及承担某些债务。威廉·拉斯特(William Rast)最初是一个牛仔系列，后来扩展到运动服装和其他类别。Sequence已经为其他几个品牌找到了潜在买家。(becky.yerak@wsj.com；@beckyyerak)