Lucky Brand files for bankruptcy, becoming the latest victim of the coronavirus pandemic
Lucky Brand announced Friday that it is filing for Chapter 11 bankruptcy.
The firm said it had entered into a "stalking horse asset purchase agreement" with SPARC Group LLC, which owns brands such as Aeropostale and Nautica, for the sale of "substantially all" its operating assets. "The COVID-19 pandemic has severely impacted sales across all channels," the firm's interim chief executive, Matthew Kaness, said in the statement.
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