Jessica Simpson bids $65M to buy back her brand before licensing company goes bankrupt

Jessica Simpson bids $65M to buy back her brand before licensing company goes bankrupt

By Cassie Carpenter For Dailymail.Com

Published: 14:03 EDT, 2 September 2021 | Updated: 14:28 EDT, 2 September 2021

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Jessica Simpson bid $65M in a last ditch effort to buy back her 16-year-old brand the day before its licensing company filed for Chapter 11 bankruptcy protection Tuesday.

Sequential Brands Group Inc. will hold an auction to attract investors for all of its brands, and other lead bidders include Galaxy Active and Centric Brands – according to Bloomberg.

Sequential – listing debts of $435M and assets of $443M – blamed its bankruptcy on falling revenue from licensing deals and the coronavirus pandemic.  

Jessica Simpson bid $65M in a last ditch effort to buy back her 16-year-old brand the day before its licensing company filed for Chapter 11 bankruptcy protection Tuesday (pictured March 31)

In debt by $435M: Sequential Brands Group Inc. will hold an auction to attract investors for all of its brands, and other lead bidders include Galaxy Active and Centric Brands

‘It’s possible that Jessica Simpson is outbid,’ bankruptcy attorney Kenneth Rosen told the New York Post on Thursday. ‘She is the first bidder unless someone wants to top her bid.’

JSC is a family affair for the 41-year-old clothing mogul, whose mother Tina serves as president and younger sister Ashlee helped launch Jessica Simpson Girls.

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Jessica has extra income having signed a partnership deal with Amazon in December to produce a fictionalized coming-of-age series about her mid-twenties, as well as an unscripted docuseries with music. 

Simpson first found fame with her three-octave soprano pipes until starring in MTV’s reality show Newlyweds (2003-2005) with ex-husband Nick Lachey. 

Bankruptcy attorney Kenneth Rosen told the New York Post on Thursday: ‘It’s possible that Jessica Simpson (M, pictured March 8) is outbid…She is the first bidder unless someone wants to top her bid’

HBIC: JSC is a family affair for the 41-year-old clothing mogul, whose mother Tina (R, pictured April 1) serves as president and younger sister Ashlee helped launch Jessica Simpson Girls

‘It is my return to the entertainment business after so long!’ Jessica has extra income having signed a partnership deal with Amazon in December (pictured December 9)

The platinum-blonde Texan will next celebrate her Yale-educated second husband Eric Johnson’s 42nd birthday on September 15.

Jessica and the retired NFL star are the proud parents of eight-year-old son Ace, nine-year-old daughter Maxwell, and two-year-old daughter Birdie.

Their married couple of seven years – who began dating in 2010 – share a $11.5M six-bedroom Hidden Hills mansion she bought from The Osbournes back in 2013.

After playing for the New Orleans Saints in 2007, Eric and martial arts master Matthew Cohen co-founded wellness content platform, Legendary Disciplines.

Seven years strong! Simpson will next celebrate her Yale-educated second husband Eric Johnson’s (R, pictured August 26) 42nd birthday on September 15

July 27 family portrait: The platinum-blonde Texan and the retired NFL star are the proud parents of son Ace, 8; daughter Maxwell, 9; and daughter Birdie,  2

Article source: https://www.dailymail.co.uk/tvshowbiz/article-9952155/Jessica-Simpson-bids-65M-buy-brand-licensing-company-goes-bankrupt.html?ns_mchannel=rss&ns_campaign=1490&ito=1490