NexCen Gets Two Bids For Waverly Brand

Reuters:

NexCen Brands Inc. has received two bids for its Waverly home furnishings brand within the past week, each of them close to $30 million, the New York Post said, citing sources.

One of the bids is from Iconix Brand Group Inc., while the other is from an investment group led by Windsong Brands and Hilco Consumer Capital, the sources told the paper.

NexCen, which is seeking to cut costs and boost liquidity as it faces a debt payment in October, said last month it had cut jobs and was exploring the possible sale of Waverly and apparel line Bill Blass.

The company, which buys and manages global brands generating revenue through licensing and franchising, had in May expressed substantial doubt about its ability to continue as a going concern and said it was exploring options to enhance liquidity.