Sean ‘Diddy’ Combs Seeks to Buy Namesake Brand Out of Bankruptcy

Hip-hop entrepreneur Sean “Diddy” Combs has bid $3.3 million to buy the assets of Sean John, the fashion and lifestyle brand he founded in 1998, out of bankruptcy.

GBG USA Inc., a bankrupt brand management firm, owns 90% of the Sean John brand through a joint venture with Combs, according to court papers filed Wednesday. GBG has been been sounding out buyers for Sean John since May.

Sean “Diddy” Combs

Photographer: Gareth Cattermole/Getty Images

An entity affiliated with Combs has been named the so-called stalking-horse bidder for Sean John, setting a floor for further bids, court papers show. Other potential buyers can submit offers until ...