Bankrupt Lucky Brand Heads to Auction With $201.5 Million Bid

Lucky Brand Dungarees LLC won court approval to conduct a rapid bankruptcy sale process with a leading bid worth $201.5 million from an entity owned by Authentic Brands Group LLC and Simon Property Group.

The jeans and apparel retailer can proceed to an auction and sale hearing in two weeks with a “stalking horse” bid from SPARC Group LLC, Judge Christopher Sontchi ruled during a telephonic hearing Thursday at the U.S. Bankruptcy Court for the District of Delaware.

The judge also approved protections for SPARC’s bid, allowing the brand operator to collect up to $7.2 million in fees if Lucky ...