Time has apparently run out for the perpetually struggling licensing company, which is now planning to liquidate under court supervision with an imminent bankruptcy filing, Bloomberg reported. SQBG had been allowed to continue operating by its lenders with multiple extensions of covenant waivers as it explored a possible sale of the company or a significant part of its portfolio. Legal problems have also hounded SQBG, including multiple shareholder actions and an ongoing suit by the SEC that accuses the company of moving too slowly to write down the goodwill of its owned brands.

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