The long-struggling brand licensor has filed for Chapter 11 protection in DE federal bankruptcy court, listing $442,774,937 of assets and $435,073,539 of liabilities. In addition to the parent company, 16 other related entities have also filed, and SQBG is seeking to have the cases jointly administered. The company’s secured “Term B” debtors, which include KKR and other lenders, are providing $150 million in debtor-in-possession financing to provide enough liquidity to support operations during the sale process. Wilmington Trust will serve as administrative agent. Nasdaq said it would delist SQBG shares on Sep. 9.

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