As GBG USA’s own chief financial officer put it, the company entered bankruptcy “running on fumes” after COVID-19 hit apparel sales around the world.
The company’s parent was once part of the Li & Fung supply chain conglomerate until it was spun off into its own company in 2014 that, until recently, traded on the Hong Kong stock exchange.
It both owns its own brands, and makes and sources products under licenses for other brand owners. Among the brands GBG USA owns are those the company is trying to sell in bankruptcy, while it licenses the All Saints, Le Tigre, Capezio and Saga brands. The company also makes private label products, including a footwear brand for Macy’s.
