NexCen in ‘active discussions’ to sell Blass, Waverly
September 11, 2008-- Home Textiles Today,
New York – Brand management and franchising company NexCen Brands said it has received multiple bids for its Bill Blass and Waverly businesses.
The company said it is “currently in active discussions and supporting diligence for the sale of each business.”
Earlier this year, NexCen ran into a severe cash crunch and restructured its bank credit facility in August. It announced at that point that it will focus on the franchising side of the business going forward, which is built around seven properties: The Athlete’s Foot and Shoebox New York retail chains; and the five fast-food brands Marble Slab Creamery, MaggieMoo’s, Pretzel Time, Pretzelmaker, and Great American Cookies.
Kenneth Hall, ceo of NexCen Brands, said, “Until a sale of Bill Blass or Waverly is completed, NexCen intends to continue to operate each business as it has done historically, including Bill Blass Couture. We remain committed to providing our licensees, franchisees and business partners with the highest level of service.”
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