According to Bloomberg, Sean Combs, former owner and creator of the Sean John brand, has recently placed a bid of $3.3 million to buy back the assets of Sean John, the fashion and lifestyle brand that the entrepreneur started in 1998. GBG USA Inc., a now-bankrupt brand management firm, owns 90% of the Sean John brand through a joint venture with Combs, according to court papers filed Wednesday.
Although a representative for Combs has decided not to comment, it’s being reported that an entity affiliated with Combs has been named the so-called stalking-horse bidder for Sean John, court papers show. Potential buyers can submit offers until Dec. 15. Read more at Black Enterprise.