December 13, 2021

US attire model Sean John recordsdata for Chapter 11 chapter proceedings

US rapper and file govt Sean John Combs, also referred to as P. Diddy, reportedly desires to purchase again his Sean John vogue line from the model’s proprietor World Manufacturers Group (GBG), to which Diddy had offered many of the attire line in 2016. However GBG earlier filed for Chapter 11 chapter due to COVID-19-induced disaster. The GBG affiliate that controls Sean John filed its personal chapter petition final week.

Diddy’s firm SLC Trend LLC was seeking to purchase the model at a value of $3.3 million in a stalking horse bid, the chapter submitting talked about. Bids are due on December 15. GBG’s collectors might additionally file a movement to dam the sale, in accordance with US media experiences.

Diddy based Sean John in 1998, and at its peak in 2016, the model had $450 million in revenues. Diddy initially let GBG take a 90 per cent stake in Sean John to assist develop the model and attain extra millennial shoppers, however his relationship with the corporate soured when the latter used his ‘Vote or Die’ slogan on merchandise with out his permission. Diddy then sued the corporate for trademark infringement.

US rapper Sean John Combs (P.