Joe’s Jeans (renamed Differential Brands Group Inc. (“DBG”) upon closing of the merger) was a publicly traded designer fashion brand created in 2001 by founder and creative director, Joe Dahan. The company sold premium apparel products through a wholesale channel of more than 1,200 high-end specialty retail stores as well as 33 company owned brick and mortar locations throughout the U.S. and abroad. In 2013, Joe’s Jeans took on a significant amount of debt in order to acquire the Hudson Jeans brand. This debt burden, coupled with a decline in the broader jeans market, ultimately caused the company to default on their loan facilities and consider strategic alternatives.
Because of Carl Marks Advisors’ track record in the retail sector, including deep experience in restructuring distressed apparel brands, the firm’s executives were engaged as chief restructuring advisor and exclusive investment banker.