LOS ANGELES — BCBG Max Azria Group LLC (BCBG) and some of its affiliates have agreed on a comprehensive restructuring that will consider the sale of substantially all the assets of the company to Marquee Brands LLC and Global Brands Group Holding Limited through a Chapter 11 bankruptcy plan.
Consummation of the transactions with Marquee and Global Brands is expected to immediately follow approval by the United States Bankruptcy Court for the Southern District of New York with an expected closing date no later than July 31.
According to BCBG, Marquee and Global Brands intend to continue to operate a substantial majority of BCBG’s core businesses. Marquee will acquire the intellectual property associated with the BCBG brand and Global Brands will acquire certain of the assets associated with the operation of the BCBG business.
Global Brands will operate the wholesale operations, select retail stores and e-commerce platform of the BCBG brands.
Founded in 1989, BCBG Max Azria Group is a label sold online, in freestanding boutiques and partner shops at top department stores across the globe.
Marquee Brands is a brand acquisition, licensing and development company. Global Brands Group Holding Limited is a branded apparel, footwear and fashion accessories companies.