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Sequential Has Lead Buyer for Timberlake-Founded William Rast -- Market Talk

Dow Jones Newswires · Oct 20, 2021 14:01

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)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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