WHP Global makes a move: Guess receives $13 per share offer
The American clothing chain Guess may soon change ownership, reports Reuters. An investor, WHP Global, which owns brands like G-Star and Toys 'R' Us, has submitted a purchase offer for the company’s shares. According to media reports, a specially appointed committee will review the offer.
The purchase offer is $13 per share. Just a week ago, Guess shares were priced below $10. Following WHP Global's offer, their price rose to over $12. Reuters suggests this reflects significant interest in the potential transaction.
Guess with a new owner? A committee has been appointed
The American clothing chain Guess may soon have a new owner. In response to WHP Global's offer, the company has appointed a committee to evaluate it.
Reuters reports that co-founder Maurice Marciano, creative director Paul Marciano, and CEO Carlos Alberini might retain their shares. Together, they own about 43% of the company.
If the transaction goes through, it would mark another collaboration for the brand with an investor. In 2024, the entities acquired the rights to Rag & Bone, a British-American brand established in 2002. Guess currently manages stores under this banner in both markets.
Guess is an American clothing company founded by four brothers: Georges, Armand, Paul, and Maurice Marciano. Born in Algeria and raised in France, they founded the brand in 1981, four years after moving to the USA.
Another bankruptcy for Forever 21
The future of another clothing brand, Forever 21, is also uncertain. The American chain has filed a bankruptcy application for the second time in six years. The company is grappling with financial issues due to declining foot traffic in shopping centers and competition from e-commerce.
The brand's future hinges on the sale of its assets. The company holds assets valued between $100 million and $500 million, but its liabilities range from $1 billion to $10 billion. A sale could help Forever 21 avoid liquidation.
