Jessica Simpson is trying to get back the rights to her clothing brand from a smattering of private equity underwriters (PEU). Music giant Taylor Swift was in a similar position with The Carlyle Group.
Tengram Capital acquired Simpson's clothing line through affiliate Sequential Brands, which recently filed for bankruptcy. PEU debt holders include Apollo Global Management and KKR.
Tengram, Apollo and KKR are working with Jessica Simpson. The Carlyle Group never gave Taylor Swift a chance, so she is re-recording all of her prior music.
Apollo owned Yahoo Finance reported:
Jessica Simpson’s family offered to buy the singer-turned-fashion entrepreneur’s brand out of bankruptcy for $65 million, a lawyer said in court Wednesday.
What if Jessica Simpson ignored the greed and leverage boys and started a new brand? She certainly is in a position to trash private equity underwriters.
Update 5-26-22: Justin Timberlake is the latest artist to sell his music to the greed and leverage boys.
