Centric Brands extends Swims interests bid deadline, adjourns auction

By Caroline Salls

Pittsburgh, Sept. 17 – Centric Brands Inc. has adjourned the auction for its Swims AS equity interests to Sept. 29 to give five interested parties a chance to submit a qualified bid, according to a notice filed with the U.S. Bankruptcy Court for the Southern District of New York.

Centric said it received five bids by the original Sept. 14 bid deadline, but none of those were qualified bids.

As a result, that, the company said it has determined that it is in the best interest of its estates and stakeholders to provide the five proposed bidders additional time to submit qualifying bid documents by 5 p.m. ET on Sept. 24, including an asset purchase agreement and ancillary documents, that are not conditioned upon any further diligence.

The auction has been adjourned to Sept. 29, and the sale hearing will be held on Oct. 1.

New York-based Centric Brands is a lifestyle brand collective that designs, sources, markets and sells kid’s, men’s and women’s apparel, accessories, beauty and entertainment products. The company filed bankruptcy on May 18 under Chapter 11 case number 20-22637.

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