Frederick’s of Hollywood Inc. yesterday won bankruptcy court approval to sell its fabled lingerie brand to licensing company Authentic Brands Group Inc. for $22.5 million, the Wall Street Journal reported today. Bankruptcy Judge Kevin Gross signed off on the sale yesterday at a hearing. Authentic Brands, which owns celebrity brands like Marilyn Monroe, Muhammad Ali and Elvis Presley, as well as women’s fashion brands such as Jones New York and Juicy Couture, is buying Frederick’s intellectual property, some inventory and its e-commerce business. The company licenses the intellectual property to retailers and manufacturers. Read more.
