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Marquee Brands Bids $50 Million for Destination Maternity $DESTQ
Neuberger Berman-backed firm agrees to acquire retailer’s brand name, e-commerce business, subject to a higher bid at bankruptcy auction
Destination Maternity operated about 435 stores when it filed for bankruptcy in October.
Destination Maternity operated about 435 stores when it filed for bankruptcy in October.PHOTO: RICHARD B. LEVINE/ZUMA PRESS

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By Aisha Al-Muslim
Nov. 30, 2019 8:04 pm ET
Bankrupt retailer Destination Maternity Corp. will shut down its remaining 235 retail stores under a deal that would see a licensing firm buy the company’s brand name and other assets for $50 million.

A licensing platform backed by Neuberger Berman Group LLC has agreed to acquire the e-commerce business, brand name and intellectual property of bankrupt retailer, according to a filing in U.S. Bankruptcy Court in Wilmington, Del.

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