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NexCen in active discussions for sale of Bill Blass, Waverly
12 Sep '08
1 min read
NexCen Brands Inc provided a business update on its review of strategic alternatives.
The company has received multiple bids for its Bill Blass and Waverly businesses, respectively. NexCen is currently in active discussions and supporting diligence for the sale of each business.
Kenneth J. Hall, Chief Executive Officer of NexCen Brands, stated, “We are pleased with the interest level in both the Bill Blass and Waverly businesses. Until a sale of Bill Blass or Waverly is completed, NexCen intends to continue to operate each business as it has done historically, including Bill Blass Couture. We remain committed to providing our licensees, franchisees and business partners with the highest level of service.”
In conjunction with the comprehensive restructuring of its bank credit facility completed last month, the company continues to execute on its previously announced business restructuring plan, which focuses on the franchising business.
The company has received multiple bids for its Bill Blass and Waverly businesses, respectively. NexCen is currently in active discussions and supporting diligence for the sale of each business.
Kenneth J. Hall, Chief Executive Officer of NexCen Brands, stated, “We are pleased with the interest level in both the Bill Blass and Waverly businesses. Until a sale of Bill Blass or Waverly is completed, NexCen intends to continue to operate each business as it has done historically, including Bill Blass Couture. We remain committed to providing our licensees, franchisees and business partners with the highest level of service.”
In conjunction with the comprehensive restructuring of its bank credit facility completed last month, the company continues to execute on its previously announced business restructuring plan, which focuses on the franchising business.
NexCen Brands Inc
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