Jessica Simpson revealed she used her house as collateral totwo years ago after the company that held a majority share headed for bankruptcy.
The "Irresistible" singer's original deal was with Nine West co-founder Vince Camuto, and the brand found so much success, it expanded from shoes into clothing, perfume, accessories, luggage and currently holds 22 licenses. However, by 2019, Sequential Brands was close to bankruptcy. Jessica Simpson said she found it"disrespectful" that Sequential wanted to furlough most of the staff during the pandemic.However, the decision to take back ownership was not easy.
Along with putting her home up as collateral, the "A Little Bit" singer also liquidated her stock portfolio and had toSimpson was recently stuck while shopping at Louis Vuitton, waiting for employees to get a spending authorization from her mom, Bustle reported.