Retailer Lucky Brand’s $191 Million Bankruptcy Sale Approved

Lucky Brand Dungarees LLC won court approval to sell its business out of bankruptcy for $191.5 million to an entity owned by Authentic Brands Group LLC and Simon Property Group.

The jeans and denim retailer will remain as a going concern business through its sale to SPARC Group LLC, which was approved during a telephonic hearing Wednesday by the U.S. Bankruptcy Court for the District of Delaware.

The sale contemplates a $140 million cash payment and the forgiveness of $11.5 million worth of Chapter 11 financing and $40 million in pre-bankruptcy loans. A committee of unsecured creditors supports the sale ...