Turmoil At Sequential Brands Amid Late Financials, Strategic Review

After failing to post its most recent quarterly financial report on time, Sequential Brands Group fell out of compliance with the Nasdaq, according to a securities filing. The company plans to file its 10-Q by June 4 and has several months to regain compliance. The brand specialist has been churning through executives amid an ongoing search for strategic alternatives to help pay off its debt. The company’s current president and CFO, meanwhile, have received retention bonuses totaling more than $1.5 million between them. Sequential Brand lenders Wilmington Trust and Bank of America, have waived defaults for the company over its late financials and extended deadlines, on top of earlier waivers in recent months. Read more at Retail Dive.