Sparc, which is made up of the U.S. mall owner Simon Property Group and the apparel licensing firm Authentic Brands Group, is set to acquire denim maker Lucky Brand out of bankruptcy.Sparc said it will negotiate with landlords to keep Lucky's "key stores" open in North America.
A pedestrian walks by a Lucky Brand retail store on July 06, 2020 in Corte Madera, California. Los Angeles based Lucky Brand Dungarees announced that it has filed for Chapter 11 bankruptcy as the company is millions of dollars in debt. The retailer will close 13 of its 200 retail stores.and apparel licensing firm Authentic Brands Group have been tapped by a bankruptcy court as the winning bidder to acquire denim maker Lucky Brand for $140.1 million.
The two — in a venture known as Sparc — announced Thursday evening they are set to assume the role of core licensee and operating partner for Lucky, overseeing all sourcing, product design and development, running all of the retailer's stores in North America and its e-commerce business. Lucky has more than 175 stores in North America, and its merchandise is also often found in department stores like
Malls are ghost towns terrible deal
Maybe if Lucky didn’t try and sell 125$ jeans that aren’t worth it they might still be in business. Let these idiots fail in the new economy. Capitalism forever!
You would think a company that owns malls wouldn’t be in a position to acquire stuff
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