The BCBG Max Azria Group has entered an agreement with Marquee Brands and Global Brands Group to sell a majority of its assets, including its IP, inventory and retail store leases, to the latter. A part of BCBG’s Chapter 11 plan, the agreement represents a shift in strategy following Global Brands Group bid to a bankruptcy court in April to license the brand. As per the new deal, Marquee will take over the IP associated with the BCBG brand and will leverage its global brand management platform to grow BCBG and related brands into new product categories, distribution channels and geographies. Meanwhile, Global Brands Group will acquire certain assets associated with the operation of the BCBG business. GBG will then market, promote, sell and distribute products bearing the BCBG brands. It will also operate the brand’s wholesale operations, select retail stores and its e-commerce platform. “This is the best possible outcome for customers, vendors, business partners and our employees who are the lifeblood of the company,” said Marty Staff, acting interim chief executive officer, BCBG. “BCBG will remain a viable, creative and strong brand going forward across multiple platforms.” The transaction is set to be finalized following approval by the United States Bankruptcy Court for the Southern District of New York no later than July 31.