Authentic Brands takes over Frederick's of Hollywood

Brand Management firm Authentic Brands has taken over bankrupt lingerie company Frederick's of Hollywood. In April, Frederick's of Hollywood filed for bankruptcy court protection in Delaware. ABG put in a 22.5 million dollar horse bid for the brand as part of a court-approved action process. Reports say that no other company made an offer that matched ABG's, which included a payout to debtors from future sales, resulting in the cancellation of an auction last month.