Frederick’s of Hollywood filed for bankruptcy protection yesterday with a $22.5 million offer in hand from Authentic Brands Group, LLC, the Wall Street Journal reported today. The agreement with Authentic Brands means the lingerie chain will continue only as an online business, unless a rival steps forward that agrees to reopen the stores. None appeared in the efforts to find a buyer that preceded the bankruptcy, court papers say. If any competing bids are received, Frederick’s is planning a May 28 auction, with Authentic Brands as lead bidder.
