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Global Brands Group Puts U.S. Units in Bankruptcy, Seeks Sales

July 29, 2021, 1:51 PM

GBG USA Inc., a subsidiary of Global Brands Group Holding Ltd., filed for Chapter 11 bankruptcy protection in New York Thursday.

  • Company will use Chapter 11 to auction its U.S. assets, including the Aquatalia brand, according to a regulatory disclosure
  • The group, through its U.S. entities, has about $240m of outstanding secured funded indebtedness, per disclosure
  • Court: U.S. Bankruptcy Court for the Southern District of New York
  • Case Number: 1:21-bk-11369

To contact the reporter on this story:
Jeremy Hill in New York at jhill273@bloomberg.net

To contact the editors responsible for this story:
Claire Boston at cboston6@bloomberg.net

Dawn McCarty

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