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Ever since rumors about Band Of Outsiders shutting down surfaced in late May, there had been a lot of speculation over what was actually happening. In the interim, the New York store had a huge sale, eventually closing, and employees stayed relatively mum until Sternberg officially put the issue to rest on his Instagram (though he subsequently deleted the original video post of a fat lady singing). Now, all the intellectual property and remaining inventory of BoO is being auctioned off to the highest bidder.

WWD and The Wall Street Journal printed a notice this morning stating that on Wednesday, July 29th, the fashion fund that served as BoO's creditor will sell off all the vital trademarks and copyrights to the brand's name, along with the remaining clothing in its possession. You can read it in full here to get the pertinent details. On a related note, July 29th is my birthday and this would make a pretty sweet gift if anyone is feeling super generous with their money. It'll be interesting to see how much coin the brand fetches next week and perhaps an interesting twist will arise in the fate of Band Of Outsiders. Stay tuned.

[Photo via Band of Outsiders blog]