Sequential Brands Tanks After Filing for Bankruptcy (1)

(Updates to add share move in headline and first bullet)

• Sequential Brands Group falls the most intraday since 2003 after the parent company of brands including the Jessica Simpson fashion collection filed for bankruptcy protection.
• Sequential said it has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware
• The company said that as a result of the significant debt on its corporate balance sheet, it was no longer able to operate its portfolio of brands
• Sequential will pursue the sale of all or substantially all of its assets
• Sequential says it received a ...