Premier Brands Group Emerges from Bankruptcy with $100M Liquidity
Nine West Holdings, now renamed Premier Brands Group Holdings LLC, has successfully emerged from Chapter 11 bankruptcy. The company has over $100 million in liquidity to support its operations and future growth initiatives.
The company's restructuring process was complex, involving disputes between bondholders and private equity firm Sycamore Partners, as well as filings from the SEC and the U.S. Trustee. Despite these challenges, Premier Brands Group has managed to reduce pre-bankruptcy debt obligations by over $1 billion and complete an operational restructuring.
In a July bankruptcy auction, the namesake Nine West and Bandolino brands were sold to Authentic Brands Group for $340 million. The company now aims to leverage the potential of its remaining brands, including One Jeanswear Group, The Jewelry Group, Kasper Group, and Anne Klein.
Premier Brands Group, formerly Nine West Holdings, has successfully navigated a contentious bankruptcy process. With over $100 million in liquidity and a reduced debt burden, the company looks to grow and thrive with its remaining brands.
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