The owner of Jessica Simpson's fashion brand is looking to sell its majority stake in the brand back to the singer herself. Sequential Brands Group Inc. is the company that owns her line, as well as Joe's Jeans and the Gaiam yoga business, but the New York-based company has been looking to sell other assets to avoid being short on cash while they negotiate with creditors, according to Bloomberg Quint. In the meantime, Sequential is seeking to sell their other brands in a process that will likely take place in court, according to sources — who have asked not to be named.
The money made in this process would be used to pay back creditors, including the company's largest lender, KKR & Co. In April, it sold the Heelys brand for $11 million. The company's lenders have extended a waiver of exiting loan defaults through next month on July 8, and in the meantime, Sequential has been on forbearance since 2020 as a result of the devastating pandemic that became responsible for many companies being forced to close their doors due to financial losses.
2020 was a big year for Simpson. She opened up about her journey with sobriety and revealed a lot of details and secrets about her personal life and relationships in her memoir Open Book. She discussed her marriage with ex-husband Nick Lachey, who is now happily married to Vanessa Lachey, as well as her romance with fellow singer, John Mayer. While she has told the public a lot of things, she has kept some of her dating experiences very private. In fact, so private that the public never found out about them.
"Well I have dated a couple of musicians, some under the radar that people don't know about," she told Drew Barrymore on her daily talk show The Drew Barrymore Show. The conversation was sparked after Simpson started talking about her inspiration for her fashion line, and when she mentioned an ex, that caught Barrymore's attention. "We've got to keep some secrets," Simpson continued. "That is definitely not being told."
The 40-year-old chose to keep some of her relationships a secret because of how she was treated in the process. While she never mentioned names, she did say that what she heard was that some of the guys' teams advised them to not move forward with her because they'll never be taken seriously in their industry if the public found out. "I feel like any time it started to get a little bit serious I was the person to run from," she revealed. "Because every guy would be listening to their publicist who would be like, 'Stay away, stay away, you'll never be a respected actor, you'll never be a respected musician if you are dating her,' but that was back then, at least that was the excuses I heard."