Sequential Brands picks stalking horse bidder for William Rast assets

By Sarah Lizee

Olympia, Wash., Oct. 20 – Sequential Brands Group, Inc. has designated WRBH Brands Group LLC as stalking horse bidder for its William Rast assets, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The purchase price under the stalking horse agreement consists of $800,000 in cash paid at closing, the assumption of certain liabilities, $100,000 in cash paid by the first anniversary of closing and $100,000 paid by the second anniversary of closing.

The agreement does not include a break-up fee or expense reimbursement.

A hearing is scheduled for Oct. 26.

New York-based Sequential Brands owns, manages and licenses consumer brands across multiple industries. The company filed bankruptcy on Aug. 31 under Chapter 11 case number 21-11194.

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