The Wall Street Journal reported Authentic Brands Group won a bidding war with shoe retailer DSW for the intellectual property of Nine West, offering up a bid of $340 million.
According to the Journal, Nine West has about $1.4 billion in debt, much of which stems from Sycamore’s 2014 buyout of Jones Group, the retailer’s former parent company. The company’s unsecured creditors have begun an investigation into the deals, added the Journal.
