Sean John, the American apparel brand, has filed for Chapter 11 bankruptcy in the US Bankruptcy Court of the Southern District of New York.
As per the filings made in the court, the US streetwear brand has been added to the bankruptcy proceedings that have been ongoing ever since its parent firm GBG USA itself filed early this year.
There are reports that Sean Comb, who owns Sean John, has shown interest in buying back his apparel brand.
Notably, Sean John already has a stalking horse bid of US $3.3 million that, reportedly, sets the stage for an auction to be held on 17 December 2021.
Here it is important to state that the owner Sean Comb had dragged the parent firm GBG to court in February 2021 over licensing disputes, which included unlawfully trading off of his name, image, likeness and persona, without his approval, permission or consent.
Since its launch in 1998, New York-based Sean John has enjoyed critical and commercial success with revenues now exceeding US $ 525 million every year.