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Global Brands Group files for Chapter 11 bankruptcy

The North American arm of Global Brands Group (GBG) has filed for Chapter 11 bankruptcy. The news was reported by WWD. In a court filing in the New York Southern District bankruptcy court on Thursday, GBG USA Inc. disclosed 1 billion and 10 billion dollars in assets and liabilities, and listed between 1000 to 5000 creditors. They currently owe...

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