×
163
Fashion Jobs
L'OREAL GROUP
Executive - Sales - Matrix - Cochin
Permanent · Kochi
SUBIR SINHA
General Manager Production Manager
Permanent · Kanpur
RIVAARA LABS
we Are Area Sales Manager Like You to Join Our Sales Team
Permanent · Nashik
CAPITAL PLACEMENT SERVICES
sr.Manager Production Grinding Machines For Vadodara Gujarat
Permanent · Vadodara
L'OREAL GROUP
Area Sales Manager - South Bengal
Permanent · Kolkata
FUTURES AND CAREERS
Job Requirement For "Assistant Production Manager"
Permanent · Renigunta
KEWAL KIRAN CLOTHING LTD
Area Sales Manager (Channel Sales) Rajasthan, Jaipur
Permanent · Jaipur
FEDBANK FINANCIAL SERVICES LTD
Area Sales Manager- Doorstep Gold Loan(Chennai)
Permanent · Chennai
HERO HOUSING FINANCE LIMITED
Area Sales Manager
Permanent · Thane
PROJOBS
Manager Accounts - Garment Manufacturing (Cma)
Permanent · Coimbatore
HECTOR AND STREAK CONSULTING PVT LTD
Production Manager- Diagnostic Portfolio
Permanent · Mumbai
ELITE DECOR PVT LTD
Production Manager & Production Supervisor
Permanent · Vadodara
L'OREAL GROUP
Sales Executive - Professional Division - Bhopal
Permanent · Bhopal
L'OREAL GROUP
Executive - Sales Cpd - Bhatinda (n)
Permanent · Bathinda
L'OREAL GROUP
Sales Executive - Cpd - Bhatinda
Permanent · Bathinda
L'OREAL GROUP
Area Sales Manager, Cpd - Chandigarh
Permanent · Chandigarh
HEALTHKART
Area Sales Manager- Healthkart - Lucknow, Agra, Gwalior
Permanent · Lucknow
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Lighting Retail Sales (Rajkot)
Permanent · Rajkot
ELECTRONICA FINANCE LTD
Area Sales Manager - Bangalore Machinery Loan
Permanent · Bengaluru
NANDANI CREATION LTD
Production Manager
Permanent · Jaipur
ELECTRONICA FINANCE LTD
Area Sales Manager - Kolhapur Machinery Loan
Permanent · Kolhapur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Ranchi
Published
Jul 24, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

ABG, Simon Property in $305m 'stalking horse' deal for Brooks Brothers

Published
Jul 24, 2020

Brooks Brothers has taken a step closer to being under new ownership with the failed American heritage retailer late on Thursday revealing that Authentic Brands Group (ABG) and malls giant Simon Property Group have it in their sights with a $300 million+ bid and plans to save “at least” 125 stores.


Brooks Brothers



America’s oldest apparel company said it had filed a motion in the United States Bankruptcy Court for the District of Delaware to obtain court approval of an asset purchase agreement with ABG/Simon’s Sparc Group LLC as stalking horse bidder.

Under the terms of the agreement, Sparc intends to buy “substantially all the company’s global business operations as a going concern” for $305 million. It has also committed to acquiring at least 125 Brooks Brothers retail locations. 

The retailer previously operated 200 stores across North America and 500 worldwide in 45 countries although there are no details yet on plans for its wider operations.

With Brooks Brothers having filed for Chapter 11 bankruptcy protection earlier this month, the agreement is subject to court approval and that means it could still be derailed by “any higher or better offers as part of the company’s ongoing auction process,” even though Sparc had already provided Brooks Brothers with substantial financing. The decline for other offers is expected to be August 5. 

At least two other major consortiums are known to be keen to buy the brand.

So what is Sparc? Also aiming to take over Lucky Brand’s assets, it describes itself as a “full-service retail operator with a multi-brand platform that supports over 2,600 retail stores and shop-in-shops, a robust e-commerce platform, and leading wholesale accounts in North America, South America, Europe, and Asia Pacific”.

It’s the “dedicated operating partner” for ABG’s Aéropostale and Nautica brands, and “supports over $2.7 billion in global retail sales annually”.

Copyright © 2021 FashionNetwork.com All rights reserved.