Vince Holding (VNCE) has provided an update.
Vince Holding Corp. has divested itself of the Rebecca Taylor brand, selling it for a nominal sum to Nova Acquisitions, LLC, led by James Carroll, the brand’s former director and officer. The sale, which did not include any operating assets, is part of Vince’s strategic wind-down of the business. Post-transaction, Vince anticipates its stockholders’ equity will exceed $50 million, although final financial results for the quarter are pending and subject to change. This move comes with no remaining ties between Carroll and Vince, and no indemnification provisions in the sale agreement, indicating a clean break and a step towards financial restructuring for Vince.
For a thorough assessment of VNCE stock, go to TipRanks’ Stock Analysis page.
