Privately-held BCBG Max Azria Group and four affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 17-10466 (BCBG Max Azria Global Holdings).
The Company, which designs, manufactures and sells women’s ready-to-wear products and accessories for customers worldwide, is represented by Joshua A. Sussberg of Kirkland & Ellis.
According to documents filed with the Court, “The operations of the Debtors’ wholly-owned foreign affiliates have historically performed at a loss. The Debtors do not intend to have any wholly-owned foreign-affiliated operations (with the possible exception of the Hudson’s Bay Company partner shops in Canada, described below) upon emergence from these chapter 11 cases. Instead, the Debtors’ go-forward business plan is focused on a reduced domestic physical footprint, accompanied by increased intellectual property licensing, wholesaling, and online retail activities. International activities will be focused on certain distribution licenses and wholesale sales.”
BCBG Max Azria Group’s Chapter 11 petition indicates assets greater than $100 million.
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