Court Confirms BCBG Comprehensive Restructuring Plan
Los Angeles, CA – July 26, 2017 – BCBG Max Azria Group, LLC (“BCBG” or the “Company”) is pleased to announce that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s comprehensive restructuring plan which contemplates the sale of substantially all the assets of the Company and certain of its affiliates to Marquee Brands LLC and Global Brands Group Holding Limited.
The transactions with Marquee and Global Brands are expected to be completed shortly and are anticipated to close on or before July 31, 2017.
“BCBG has accomplished its goal to remain a viable, creative and strong brand through the sale transactions with Marquee and Global Brands,” said Marty Staff, Acting Interim Chief Executive Officer of BCBG Max Azria Group LLC. "I would like to thank the BCBG team and all parties involved for their hard work. While there is no question that this has been a difficult process, we can all be appreciative of the significant efforts made by so many stakeholders to agree to a path forward for BCBG and its employees.”
Additional information regarding the Company’s Chapter 11 process can be found at https://www.donlinrecano.com/bcbg.
BCBG Max Azria Group, LLC is being advised by AlixPartners, LLP and Jefferies LLC as its restructuring advisors, and by Kirkland & Ellis LLP as its legal advisor.
Marquee Brands is being advised by Moore & Van Allen PLLC as its legal advisor.
Global Brands Group is being advised by Reed Smith LLP as its legal advisor.
About BCBG Max Azria Group, LLC
BCBG Max Azria Group began with a single idea – to create a beautiful dress. Founded in 1989, BCBG was named for the French phrase “bon chic, bon genre,” a Parisian slang meaning "good style, good attitude." The brand embodies a true combination of European sophistication and American spirit. The BCBG Max Azria label is sold online, in freestanding boutiques and partner shops at top department stores across the globe.
About Marquee Brands LLC
Marquee Brands is a brand acquisition, licensing and development company, sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman, one of the world’s leading employee-owned investment managers. Marquee Brands targets high quality brands with strong consumer awareness and long-term growth potential. Marquee Brands seeks to identify brands in a variety of consumer product segments with the goal of expanding its reach across retail channels, geographies and product categories ; honoring the unique heritage of each of its brands while still enhancing consumer experience. Through its global team of professionals and partners, Marquee Brands monitors trends and markets in order to grow and manage brands in partnership with retailers, licensees and manufacturers through engaging, impactful marketing and strategic planning. For more information, please visit the corporate website: www.marqueebrands.com
About Global Brands Group Holding Limited
Global Brands Group Holding Limited (SEHK Stock Code: 787) is one of the world’s leading branded apparel, footwear and fashion accessories companies. The Group designs, develops, markets and sells products under a diverse array of owned and licensed brands and a wide range of product categories.
Global Brands’ innovative design capabilities, strong brand management focus, and strategic vision enable it to create new opportunities, product categories and market expansion for brands on a global scale. In addition, the Group is the global leader in the brand management business through its joint venture, CAA-GBG Brand Management Group. For more information, please visit the corporate website: www.globalbrandsgroup.com.
Media contact for BCBG:
Sitrick And Company
Seth Lubove or Anita-Marie Laurie