Sean "Diddy" Combs sued Sean John and its owner, GBG USA Inc., earlier this year for $25 million before later launching a $60 million lawsuit against the clothing company he founded in 1998. Now, the mogul has placed a multi-million dollar bid to buy the brand out of bankruptcy.
Diddy reportedly bid $3.3 million to buy back Sean John after selling the company to GBG USA in 2016. Sean John has been seeking a buyer since May and the court documents for Diddy's bid were placed on Wednesday. Potential buyers have until Dec. 15 to top Diddy's offer.
If Diddy successfully acquires Sean John, he plans to completely reinvigorate the fashion brand.
Source: Bloomberg
