An auction to consider bids to purchase the bankrupt retailer was pushed to today.
The auction, postponed by a day to Tuesday, will proceed with the $305 million stalking horse bid by Sparc Group — a joint venture of Authentic Brands Group and Simon Property Group — as the one that any other competitors will have to beat.
In the meantime, a few brands have flagged concerns about how their licensing and other intellectual property issues would fare in the course of a sale process. The agreement in question, between a predecessor to Brooks Brothers Group, Inc. and a Ralph Lauren predecessor, essentially gave Brooks Brothers a “perpetual, exclusive license to use the trademark POLO in connection with shirts having button-down collars,” according to Ralph Lauren’s filing. Ralph Lauren said in its filing that it “does not intend” to agree to transfer the licensing agreement in a sale.
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