April 26, 2017 2:31 PM ET

Textiles, Apparel and Luxury Goods

Company Overview of Nasty Gal Inc.

Company Overview

Nasty Gal Inc. manufactures, markets, and sells clothes, shoes, and accessories for women. The company offers dresses, rompers and jumpsuits, tops and bodysuits, denim products, bottoms, swimwear, jackets and coats, sweaters, lingerie and lounge products. It also provides sandals, heels, boots, booties, sneakers, platforms, and flats; jewelry, sunglasses, bags and backpacks, belts, hair products, hats, tech products, scarves, bandanas, beauty products, socks, and legwear. In addition, the company distributes third party products. It sells products through its stores; and online. The company was founded in 2006 and is based in Los Angeles, California. It has store locations in Los Angeles and...

523 West 6th Street

Suite 330

Los Angeles, CA 90014

United States

Founded in 2006

Phone:

502-215-1425

Fax:

213-542-5276

Key Executives for Nasty Gal Inc.

Chief Executive Officer
Age: 60
Founder, Owner and Executive Chairman
Buying Director
Creative Director
Art Director
Compensation as of Fiscal Year 2016.

Nasty Gal Inc. Key Developments

Motion for Asset Sale Approved for Nasty Gal Inc.

The US Bankruptcy Court approved the sale of certain assets of Nasty Gal, Inc. on February 8, 2017. The Court has authorized the debtor to sell its assets to BooHoo FI Limited for a purchase price of $20 million pursuant to the agreement dated December 27, 2016. The sale assets include intellectual property and customer database assets.

Bidding Procedure Approved for Nasty Gal Inc.

The US Bankruptcy Court approved the bidding procedure for sale of certain assets of Nasty Gal, Inc. on January 6, 2017. As per the order, BooHoo FI Limited is the proposed stalking horse bidder for sale of debtor's intellectual property and customer database assets for a purchase price of $20 million pursuant to asset purchase agreement signed on December 27, 2016. The stalking horse bidder shall provide a good faith deposit in the amount of $3 million. The stalking horse bidder shall be entitled to receive a Break-up fee in the amount of $0.7 million and an expense reimbursement up to the amount of $0.25 million. The initial minimum overbid should be at least in the amount of at least $21.15 million. At the auction, the subsequent bids would be in increments of $0.2 million. All interested bidder will deposit 10% of the purchase price as good faith deposit. As per the bidding procedure, the deadline for submitting competitive bids will be February 2, 2017, and an auction will be held on or before February 7, 2017. The sale hearing will be held on February 7, 2017. The closing date shall be February 28, 2017.

boohoo Seeks To Acquire Nasty Gal's Brand And Customer Databases

boohoo.com plc (AIM:BOO) is looking to buy the brand and customer databases of Nasty Gal Inc., which filed for bankruptcy in America on November 9, 2016. Mahmud Kamani and Carol Kane, joint chief executives of Boohoo, said the Nasty Gal deal was an "ideal next step" for the group. They added it was a "fantastic opportunity to add such a well-established, global brand to the Boohoo family". Boohoo.com has unveiled its latest acquisition as it revealed plans to snap up the brand of Nasty Gal in a $20 million deal.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 28, 2016
--
Bankruptcy
November 9, 2016
--
 

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