<!--Enhanced HTML document created with Toppan Merrill Bridge  9.7.0.58--><!--Created on: 10/13/2020 10:02:10 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;text-align:center;border-bottom:1.0pt solid #000000;border-top:3.0pt solid #000000;margin:0pt;"><font style="font-size:1pt;font-weight:bold;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">WASHINGTON, DC 20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">FORM&#160;8-K</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">CURRENT REPORT PURSUANT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">TO SECTION&#160;13 OR 15(D)&#160;OF THE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SECURITIES EXCHANGE ACT OF 1934</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 10pt 0pt;"><font style="white-space:pre-wrap;">Date of report (Date of earliest event reported):  </font><b style="font-weight:bold;">October&#160;9, 2020</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;text-align:center;border-bottom:1.0pt solid #000000;margin:0pt;"><b style="font-weight:bold;">Centric Brands&#160;Inc.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 8pt 0pt;">(Exact Name of Registrant as Specified in Its Charter)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;text-align:center;border-bottom:1.0pt solid #000000;margin:0pt;">Delaware</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(State or Other Jurisdiction of Incorporation)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:8pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;" align="center"><tr style="height:1pt;"><td style="vertical-align:top;width:52.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:47.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:52.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0-18926</p></td><td style="vertical-align:top;width:47.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11-2928178</p></td></tr><tr><td style="vertical-align:top;width:52.15%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Commission File Number)</p></td><td style="vertical-align:top;width:47.84%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(IRS Employer Identification No.)</p></td></tr><tr><td style="vertical-align:top;width:52.15%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:47.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:52.15%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:47.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:52.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">350 5<sup style="font-size:7.5pt;vertical-align:top;">th </sup>Avenue, 6<sup style="font-size:7.5pt;vertical-align:top;">th</sup> Floor, New York, New York</p></td><td style="vertical-align:top;width:47.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">10118</p></td></tr><tr><td style="vertical-align:top;width:52.15%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Address of Principal Executive Offices)</p></td><td style="vertical-align:top;width:47.84%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Zip Code)</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;text-align:center;border-bottom:1.0pt solid #000000;margin:0pt;">(646) 582-6000</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 8pt 0pt;">(Registrant&#8217;s Telephone Number, Including Area Code)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;text-align:center;border-bottom:1.0pt solid #000000;margin:0pt;">N/A</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 7pt 0pt;">(Former Name or Former Address, if Changed Since Last Report)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">Check the appropriate box below if the Form&#160;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<i style="font-style:italic;">see </i>General Instruction A.2. below):</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 18pt;"><font style="font-family:'Segoe UI Symbol';">&#9744;</font>&#160;&#160;&#160;&#160;Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 18pt;"><font style="font-family:'Segoe UI Symbol';">&#9744;</font>&#160;&#160;&#160;&#160;Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 18pt;"><font style="font-family:'Segoe UI Symbol';">&#9744;</font>&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR 240.14d-2(b))</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 18pt;"><font style="font-family:'Segoe UI Symbol';">&#9744;</font>&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c))</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 18pt;"><font style="font-size:8pt;margin-bottom:12pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Securities registered pursuant to Section&#160;12(b)&#160;of the Act:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:8pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.051517487%;padding-left:0pt;padding-right:0pt;width:100.1%;" align="center"><tr style="height:1pt;"><td style="vertical-align:top;width:37.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:24.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:37.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:37.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2pt 0pt;">Title of each class</p></td><td style="vertical-align:top;width:24.89%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2pt 0pt;">Trading Symbol(s)</p></td><td style="vertical-align:top;width:37.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2pt 0pt;">Name of each exchange on which registered</p></td></tr><tr><td style="vertical-align:top;width:37.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2pt 0pt;"><b style="font-weight:bold;">Common Stock, par value $0.10 per share</b></p></td><td style="vertical-align:top;width:24.89%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2pt 0pt;"><b style="font-weight:bold;">CTRCQ</b></p></td><td style="vertical-align:top;width:37.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2pt 0pt;"><b style="font-weight:bold;">OTC Pink Marketplace</b></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule&#160;12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;">Emerging growth company <font style="font-family:'Segoe UI Symbol';">&#9744;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 18pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act. <font style="font-family:'Segoe UI Symbol';">&#9744;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:5pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;text-align:justify;border-bottom:3.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;"><font style="font-size:1pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:6pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">EXPLANATORY NOTE</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As previously disclosed, on May 18, 2020, the Company and certain of its subsidiaries (together with the Company, the &#8220;Debtors&#8221;) filed voluntary petitions (the &#8220;Chapter 11 Cases&#8221;) for relief under Chapter 11 of the United States Bankruptcy Code (the &#8220;Bankruptcy Code&#8221;) in the U.S. Bankruptcy Court for the Southern District of New York (the &#8220;Bankruptcy Court&#8221;). The Chapter 11 Cases are being jointly administered under the caption <i style="font-style:italic;">In re Centric Brands Inc., et al.</i>, No.&#160;20-22637 (SHL). On May 29, 2020, the Debtors filed a proposed joint plan of reorganization, which plan was subsequently amended multiple times, and ultimately filed as the <i style="font-style:italic;">Fifth Amended Joint Chapter 11 Plan of Reorganization of Centric Brands Inc., et al. Pursuant to Chapter 11 of the Bankruptcy Code</i> (the &#8220;Plan&#8221;). On September 21, 2020, the Bankruptcy Court entered an order (as it may be amended, supplemented or otherwise modified from time to time, the &#8220;Confirmation Order&#8221;) approving and confirming the Plan. Capitalized terms used but not defined in this report on Form&#160;8-K shall have the meanings given to them in the Confirmation Order and the Plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Plan became effective on October 9, 2020 (the &#8220;Effective Date&#8221;) in accordance with its terms, and the Debtors emerged from the Chapter 11 Cases. As part of the transactions undertaken pursuant to the Plan (the &#8220;Transactions&#8221;), the Debtors were reorganized and Centric Brands Inc. was converted into Centric Brands LLC, a Delaware limited liability company (&#8220;Reorganized Centric&#8221;) and all of the shares of common stock of Centric Brands Inc. outstanding immediately prior to the Effective Date were cancelled, discharged and of no force and effect.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;1.01&#8195;Entry into a Material Definitive Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The information included in Item&#160;1.03 herein is incorporated by reference in this Item&#160;1.01.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;1.02&#8195;Termination of a Material Definitive Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Prepetition Indebtedness</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Pursuant to the Plan, on the Effective Date, the obligations of the Debtors under (a)&#160;that certain First Lien Credit Agreement, dated as of October&#160;29, 2018 (as amended by (i)&#160;that certain Amendment No.&#160;1 and Waiver to Credit Agreement, dated as of April&#160;17, 2019, (ii)&#160;that certain Amendment No.&#160;2 and Waiver to Credit Agreement, dated as of April&#160;20, 2020 and (iii)&#160;that certain Amendment No.&#160;3 and Waiver to Credit Agreement, dated as of May&#160;11, 2020), by and among the Company (f/k/a Differential Brands Group&#160;Inc.), as borrower, the lenders from time to time party thereto, the First Lien Revolving Agent, the First Lien Term Loan Agent and HPS Investment Partners, LLC, as documentation agent, (b)&#160;that certain Second Lien Credit Agreement dated as of October&#160;29, 2018 (as amended, by (i)&#160;that certain Amendment No.&#160;1 and Waiver to Credit Agreement, dated as of April&#160;17, 2019, (ii)&#160;that certain Amendment No.&#160;2 and Waiver to Credit Agreement, dated as of April&#160;20, 2020 and (iii)&#160;that certain Amendment No.&#160;3 and Waiver to Credit Agreement, dated as of May&#160;11, 2020) by and among the Company (f/k/a Differential Brands Group&#160;Inc.), as borrower, the lenders party thereto, and U.S. Bank National Association, as administrative agent and collateral agent, (c)&#160;all contracts, instruments, indentures, and other agreements or documents created in connection with those certain Convertible Promissory Notes, dated October&#160;29, 2018, issued by the Company to funds managed by GSO Capital Partners LP and funds managed by Blackstone Tactical Opportunities Advisors L.L.C., (d)&#160;all contracts, instruments, indentures, and other agreements or documents created in connection with those certain Subordinated Convertible Promissory Notes, dated January&#160;28, 2016, issued by the Company pursuant to that certain Rollover Agreement, dated as of September&#160;8, 2015 among Joe&#8217;s Jeans&#160;Inc. and each of the noteholders party thereto, (d)&#160;that certain Amended and Restated Purchase and Sale Agreement, dated May&#160;20, 2020, among the Company, as Servicer, certain subsidiaries of the Company, as Originators and Spring Funding, LLC, as Buyer, and (e)&#160;that certain Amended and Restated Receivables Purchase Agreement, dated May&#160;20, 2020, among Spring Funding, LLC, as Seller, the Company, as initial Servicer, certain purchasers party thereto, PNC Bank, National Association as Administrative Agent, and PNC Capital Markets LLC, as Structuring Agent, were released and discharged.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Equity Interests</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In accordance with the Plan and Confirmation Order, on the Effective Date, all shares of Centric Brands&#160;Inc.&#8217;s common stock issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no further force or effect.</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">DIP Facilities</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On the Effective Date, all holders of Allowed DIP Revolving Loan Claims received the face amount of their Allowed DIP Revolving Loan Claims in indebtedness and letter of credit obligations in the Exit Revolving Facility (as defined below), and the DIP Revolving Loan Documents were deemed canceled, surrendered, and otherwise terminated.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On the Effective Date, holders of Allowed DIP Term Loan Claims received the face amount of their Allowed Term Loan Claims in indebtedness and letter of credit obligations in the Exit Term Facility (as defined below) and the DIP Term Loan Documents were deemed canceled, surrendered, and otherwise terminated.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;1.03&#8195;Bankruptcy or Receivership.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The information set forth in the explanatory note is incorporated by reference into this Item&#160;1.03.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">New Exit Facilities</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On the Effective Date, Reorganized Centric entered into that certain new exit term credit agreement (a)&#160;by and among Reorganized Centric, as borrower, Ares Capital Corporation as administrative agent (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Administrative Agent</u>&#8221;), ACF Finco I LP as revolving agent and collateral agent (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Collateral Agent</u>&#8221;), HPS Investment Partners, LLC as documentation agent, and the lenders from time to time party thereto &#160;(as so executed and delivered, the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Exit First Lien Credit Agreement</u>&#8221;), (b)&#160;the Collateral Agreement, among Reorganized Centric and certain of Reorganized Centric&#8217;s subsidiaries as Grantors (as defined therein) and the Collateral Agent and (c)&#160;the Guaranty Agreement among Reorganized Centric, certain of Reorganized Centric&#8217;s subsidiaries as Guarantors (as defined therein) and the Administrative Agent, which Exit First Lien Credit Agreement established (a)&#160;a senior secured revolving credit facility (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Exit Revolving Facility</u>&#8221;) in an aggregate committed amount of up to $275,000,000.00 (the loans thereunder, the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Exit Revolving Loans</u>&#8221;) and (b)&#160;a senior secured first lien term loan facility (&#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Exit Term Facility</u>&#8221;) in an aggregate principal amount of $824,923,865.50 (the loans thereunder, the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Exit Term Loans</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Reorganized Centric will use the proceeds of the Exit Term Loans to fund fees, costs and expenses incurred in connection with the Exit First Lien Credit Agreement and the Transactions and to finance the repayment, redemption or discharge of, and termination of all obligations and commitments under certain indebtedness of the Debtors. Reorganized Centric will use the proceeds of the Exit Revolving Loans for working capital needs and other general corporate purposes.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">New Receivables Facility</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On the Effective Date, Reorganized Centric entered into a two-year trade receivables securitization facility (with an option to extend) pursuant to (a)&#160;that certain Receivables Credit Agreement among Spring Funding II, LLC, a Delaware limited liability company (&#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Spring Funding II</u>&#8221;), as Borrower, Reorganized Centric, as Master Servicer, Centric Commercial Funding LP, as the Initial Lender, the other Lenders from time to time party thereto and U.S. Bank, National Association, as Administrative Agent (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Agent</u>&#8221;), (b)&#160;the Purchase and Sale Agreement among Spring Funding II, as buyer, Reorganized Centric as Master Servicer, and the Sellers (as defined therein) party thereto, (c)&#160;the Canadian Purchase and Sale Agreement, among Spring Funding II, as buyer, the Company, as Master Servicer, and Centric Canada Apparel&#160;&amp; Accessories ULC as Canadian seller, and (d)&#160;the Performance Guaranty, dated on or around the date hereof, by and between Reorganized Centric, as performance guarantor and the Agent, which collectively establish a $425,000,000 revolving trade receivables facility in favor of Spring Funding II, LLC, an indirect subsidiary of Reorganized Centric.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;2.03&#8195;Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The information in Item&#160;1.03 is incorporated by reference into this Item&#160;2.03.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;3.02&#8195;Unregistered Sales of Equity Securities.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Pursuant to the Plan and following the cancellation of Centric Brands&#160;Inc.&#8217;s outstanding common stock described in this Current Report, on the Effective Date, Reorganized Centric issued new common membership interests (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Interests</u>&#8221;) to holders of allowed First Lien Term Loan Claims and Second Lien Secured Claims. The issuance of the Units was exempt </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">from registration under the Securities Act pursuant to section 1145 of the Bankruptcy Code or another exemption from registration.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;3.03&#8195;Material Modification to the Rights of Security Holders.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The information in Item&#160;1.03, Item&#160;5.01 and Item&#160;5.03 is incorporated by reference into this Item&#160;3.03.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;5.01&#8195;Changes in Control of Registrant.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On the Effective Date, pursuant to the Plan, all equity interests in Centric Brands&#160;Inc. outstanding immediately prior to the Effective Date were cancelled, discharged, and of no force and effect. On the Effective Date, pursuant to the Plan, Reorganized Centric issued the Interests to holders of holders of allowed First Lien Term Loan Claims and Second Lien Secured Claims.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;5.02&#8195;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Pursuant to and in accordance with the Plan, on the Effective Date, Marjorie Bowen, Sherman K. Edmiston III, Patrick J. Bartels, William Sweedler, Matthew Eby, Glenn Krevlin, Walter McLallen, and Kent Savage ceased to be directors of the Company (collectively, the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Departing Directors</u>&#8221;). Each of the Departing Directors&#8217; decision to resign&#160;was not related to a disagreement with the Company over any financial reporting, internal control, accounting or auditing matters. Mitchell Goldstein, Randall Kessler, Vikas Keswani, Kelley Morrell, Robert Petrini, Jason Rabin, and Andrew Sagat were designated as members of the Board of Managers of Reorganized Centric on the Effective Date.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;5.03&#8195;Amendments to Articles of Incorporation or Bylaws</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On the Effective Date, in connection with the implementation of the Plan and pursuant to the Plan, the Company converted from a corporation to a limited liability company by filing a Certificate of Conversion and Certificate of Formation with the Secretary of State of the State of Delaware and adopted a Limited Liability Company Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;8.01&#8195;Other Events</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Deregistration of Common Stock</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In conjunction with its emergence from bankruptcy, Reorganized Centric intends to file post-effective amendments to all of the Company&#8217;s currently effective Registration Statements on Form&#160;S-8 and to promptly file a Form&#160;15 with the Securities and Exchange Commission (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">SEC</u>&#8221;) to deregister its securities under Section&#160;12(g)&#160;of the Securities Exchange Act of 1934, as amended (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Exchange Act</u>&#8221;), and suspend each its reporting obligations under Sections&#160;13(a) and 15(d)&#160;of the Exchange Act. Upon the filing of the Form&#160;15, Reorganized Centric&#8217;s obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, will be immediately suspended.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Press Release</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On the Effective Date, Reorganized Centric issued a press release announcing its emergence from the restructuring process and successful consummation of the Plan. A copy of the press release is attached hereto as Exhibit&#160;99.1 and is incorporated by reference into this Item&#160;8.01.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;9.01&#8195;Financial Statements and Exhibits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">(d)&#160;&#160;&#160;&#160;<i style="font-style:italic;">Exhibits</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The following exhibits are filed with this report:</p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;table-layout:auto;width:100%;" align="center"><tr><td style="vertical-align:bottom;width:10.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Exhibit<br>Number</b></p></td><td style="vertical-align:top;width:2.78%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">&#160;&#160;&#160;&#160;</b></p></td><td style="vertical-align:bottom;width:87.01%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Description</b></p></td></tr><tr><td style="vertical-align:bottom;width:10.19%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">99.1</p></td><td style="vertical-align:top;width:2.78%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:87.01%;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a style="-sec-extract:exhibit;" href="tmb-20201009xex99d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Press Release of Centric Brands, LLC</font></a></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">SIGNATURES</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;" align="center"><tr style="height:1pt;"><td style="vertical-align:top;width:46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:5.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:45.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">&#160;&#160;&#160;</b></p></td><td colspan="2" style="vertical-align:top;width:51.08%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">CENTRIC BRANDS&#160;INC.</b></p></td></tr><tr><td style="vertical-align:top;width:46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:top;width:51.08%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="white-space:pre-wrap;">Date:  October&#160;13, 2020</font></p></td><td style="vertical-align:top;width:2.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.8%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By:</p></td><td style="vertical-align:top;width:45.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Anurup Pruthi</p></td></tr><tr><td style="vertical-align:top;width:46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.8%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:45.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.8%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Name:</p></td><td style="vertical-align:top;width:45.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Anurup Pruthi</p></td></tr><tr><td style="vertical-align:top;width:46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.8%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:45.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.8%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Title:</p></td><td style="vertical-align:top;width:45.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chief Financial Officer </p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border-width:0;"></body></html>
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{"company-data": {"conformed-name": "Centric Brands Inc.", "cik": "0000844143", "assigned-sic": "2300", "irs-number": "112928178", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18926", "film-number": "201234372"}, "business-address": {"street1": "350 5TH AVENUE", "street2": "6TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10118", "phone": "646-582-6000"}, "mail-address": {"street1": "350 5TH AVENUE", "street2": "6TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10118"}, "former-company": [{"former-conformed-name": "Differential Brands Group Inc.", "date-changed": "20160125"}, {"former-conformed-name": "JOE'S JEANS INC.", "date-changed": "20071015"}, {"former-conformed-name": "INNOVO GROUP INC", "date-changed": "19920703"}]}
​
​
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
​
FORM 8-K
​
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
​
Date of report (Date of earliest event reported):
October 9, 2020
Centric Brands Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
​
0-18926
11-2928178
(Commission File Number)
(IRS Employer Identification No.)
​
​
​
​
350 5
th
Avenue, 6
th
Floor, New York, New York
10118
(Address of Principal Executive Offices)
(Zip Code)
​
(646) 582-6000
(Registrant's Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
​
Securities registered pursuant to Section 12(b) of the Act:
​
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.10 per share
CTRCQ
OTC Pink Marketplace
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
​
​
EXPLANATORY NOTE
As previously disclosed, on May 18, 2020, the Company and certain of its subsidiaries (together with the Company, the "Debtors") filed voluntary petitions (the "Chapter 11 Cases") for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the U.S. Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). The Chapter 11 Cases are being jointly administered under the caption
In re Centric Brands Inc., et al.
, No. 20-22637 (SHL). On May 29, 2020, the Debtors filed a proposed joint plan of reorganization, which plan was subsequently amended multiple times, and ultimately filed as the
Fifth Amended Joint Chapter 11 Plan of Reorganization of Centric Brands Inc., et al. Pursuant to Chapter 11 of the Bankruptcy Code
(the "Plan"). On September 21, 2020, the Bankruptcy Court entered an order (as it may be amended, supplemented or otherwise modified from time to time, the "Confirmation Order") approving and confirming the Plan. Capitalized terms used but not defined in this report on Form 8-K shall have the meanings given to them in the Confirmation Order and the Plan.
The Plan became effective on October 9, 2020 (the "Effective Date") in accordance with its terms, and the Debtors emerged from the Chapter 11 Cases. As part of the transactions undertaken pursuant to the Plan (the "Transactions"), the Debtors were reorganized and Centric Brands Inc. was converted into Centric Brands LLC, a Delaware limited liability company ("Reorganized Centric") and all of the shares of common stock of Centric Brands Inc. outstanding immediately prior to the Effective Date were cancelled, discharged and of no force and effect.
Item 1.01 Entry into a Material Definitive Agreement.
The information included in Item 1.03 herein is incorporated by reference in this Item 1.01.
Item 1.02 Termination of a Material Definitive Agreement.
Prepetition Indebtedness
Pursuant to the Plan, on the Effective Date, the obligations of the Debtors under (a) that certain First Lien Credit Agreement, dated as of October 29, 2018 (as amended by (i) that certain Amendment No. 1 and Waiver to Credit Agreement, dated as of April 17, 2019, (ii) that certain Amendment No. 2 and Waiver to Credit Agreement, dated as of April 20, 2020 and (iii) that certain Amendment No. 3 and Waiver to Credit Agreement, dated as of May 11, 2020), by and among the Company (f/k/a Differential Brands Group Inc.), as borrower, the lenders from time to time party thereto, the First Lien Revolving Agent, the First Lien Term Loan Agent and HPS Investment Partners, LLC, as documentation agent, (b) that certain Second Lien Credit Agreement dated as of October 29, 2018 (as amended, by (i) that certain Amendment No. 1 and Waiver to Credit Agreement, dated as of April 17, 2019, (ii) that certain Amendment No. 2 and Waiver to Credit Agreement, dated as of April 20, 2020 and (iii) that certain Amendment No. 3 and Waiver to Credit Agreement, dated as of May 11, 2020) by and among the Company (f/k/a Differential Brands Group Inc.), as borrower, the lenders party thereto, and U.S. Bank National Association, as administrative agent and collateral agent, (c) all contracts, instruments, indentures, and other agreements or documents created in connection with those certain Convertible Promissory Notes, dated October 29, 2018, issued by the Company to funds managed by GSO Capital Partners LP and funds managed by Blackstone Tactical Opportunities Advisors L.L.C., (d) all contracts, instruments, indentures, and other agreements or documents created in connection with those certain Subordinated Convertible Promissory Notes, dated January 28, 2016, issued by the Company pursuant to that certain Rollover Agreement, dated as of September 8, 2015 among Joe's Jeans Inc. and each of the noteholders party thereto, (d) that certain Amended and Restated Purchase and Sale Agreement, dated May 20, 2020, among the Company, as Servicer, certain subsidiaries of the Company, as Originators and Spring Funding, LLC, as Buyer, and (e) that certain Amended and Restated Receivables Purchase Agreement, dated May 20, 2020, among Spring Funding, LLC, as Seller, the Company, as initial Servicer, certain purchasers party thereto, PNC Bank, National Association as Administrative Agent, and PNC Capital Markets LLC, as Structuring Agent, were released and discharged.
Equity Interests
In accordance with the Plan and Confirmation Order, on the Effective Date, all shares of Centric Brands Inc.'s common stock issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, discharged and of no further force or effect.
DIP Facilities
On the Effective Date, all holders of Allowed DIP Revolving Loan Claims received the face amount of their Allowed DIP Revolving Loan Claims in indebtedness and letter of credit obligations in the Exit Revolving Facility (as defined below), and the DIP Revolving Loan Documents were deemed canceled, surrendered, and otherwise terminated.
On the Effective Date, holders of Allowed DIP Term Loan Claims received the face amount of their Allowed Term Loan Claims in indebtedness and letter of credit obligations in the Exit Term Facility (as defined below) and the DIP Term Loan Documents were deemed canceled, surrendered, and otherwise terminated.
Item 1.03 Bankruptcy or Receivership.
The information set forth in the explanatory note is incorporated by reference into this Item 1.03.
New Exit Facilities
On the Effective Date, Reorganized Centric entered into that certain new exit term credit agreement (a) by and among Reorganized Centric, as borrower, Ares Capital Corporation as administrative agent (the "
Administrative Agent
"), ACF Finco I LP as revolving agent and collateral agent (the "
Collateral Agent
"), HPS Investment Partners, LLC as documentation agent, and the lenders from time to time party thereto  (as so executed and delivered, the "
Exit First Lien Credit Agreement
"), (b) the Collateral Agreement, among Reorganized Centric and certain of Reorganized Centric's subsidiaries as Grantors (as defined therein) and the Collateral Agent and (c) the Guaranty Agreement among Reorganized Centric, certain of Reorganized Centric's subsidiaries as Guarantors (as defined therein) and the Administrative Agent, which Exit First Lien Credit Agreement established (a) a senior secured revolving credit facility (the "
Exit Revolving Facility
") in an aggregate committed amount of up to $275,000,000.00 (the loans thereunder, the "
Exit Revolving Loans
") and (b) a senior secured first lien term loan facility ("
Exit Term Facility
") in an aggregate principal amount of $824,923,865.50 (the loans thereunder, the "
Exit Term Loans
").
Reorganized Centric will use the proceeds of the Exit Term Loans to fund fees, costs and expenses incurred in connection with the Exit First Lien Credit Agreement and the Transactions and to finance the repayment, redemption or discharge of, and termination of all obligations and commitments under certain indebtedness of the Debtors. Reorganized Centric will use the proceeds of the Exit Revolving Loans for working capital needs and other general corporate purposes.
New Receivables Facility
On the Effective Date, Reorganized Centric entered into a two-year trade receivables securitization facility (with an option to extend) pursuant to (a) that certain Receivables Credit Agreement among Spring Funding II, LLC, a Delaware limited liability company ("
Spring Funding II
"), as Borrower, Reorganized Centric, as Master Servicer, Centric Commercial Funding LP, as the Initial Lender, the other Lenders from time to time party thereto and U.S. Bank, National Association, as Administrative Agent (the "
Agent
"), (b) the Purchase and Sale Agreement among Spring Funding II, as buyer, Reorganized Centric as Master Servicer, and the Sellers (as defined therein) party thereto, (c) the Canadian Purchase and Sale Agreement, among Spring Funding II, as buyer, the Company, as Master Servicer, and Centric Canada Apparel & Accessories ULC as Canadian seller, and (d) the Performance Guaranty, dated on or around the date hereof, by and between Reorganized Centric, as performance guarantor and the Agent, which collectively establish a $425,000,000 revolving trade receivables facility in favor of Spring Funding II, LLC, an indirect subsidiary of Reorganized Centric.
Item 2.03 Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information in Item 1.03 is incorporated by reference into this Item 2.03.
Item 3.02 Unregistered Sales of Equity Securities.
Pursuant to the Plan and following the cancellation of Centric Brands Inc.'s outstanding common stock described in this Current Report, on the Effective Date, Reorganized Centric issued new common membership interests (the "
Interests
") to holders of allowed First Lien Term Loan Claims and Second Lien Secured Claims. The issuance of the Units was exempt
from registration under the Securities Act pursuant to section 1145 of the Bankruptcy Code or another exemption from registration.
Item 3.03 Material Modification to the Rights of Security Holders.
The information in Item 1.03, Item 5.01 and Item 5.03 is incorporated by reference into this Item 3.03.
Item 5.01 Changes in Control of Registrant.
On the Effective Date, pursuant to the Plan, all equity interests in Centric Brands Inc. outstanding immediately prior to the Effective Date were cancelled, discharged, and of no force and effect. On the Effective Date, pursuant to the Plan, Reorganized Centric issued the Interests to holders of holders of allowed First Lien Term Loan Claims and Second Lien Secured Claims.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Pursuant to and in accordance with the Plan, on the Effective Date, Marjorie Bowen, Sherman K. Edmiston III, Patrick J. Bartels, William Sweedler, Matthew Eby, Glenn Krevlin, Walter McLallen, and Kent Savage ceased to be directors of the Company (collectively, the "
Departing Directors
"). Each of the Departing Directors' decision to resign was not related to a disagreement with the Company over any financial reporting, internal control, accounting or auditing matters. Mitchell Goldstein, Randall Kessler, Vikas Keswani, Kelley Morrell, Robert Petrini, Jason Rabin, and Andrew Sagat were designated as members of the Board of Managers of Reorganized Centric on the Effective Date.
Item 5.03 Amendments to Articles of Incorporation or Bylaws
On the Effective Date, in connection with the implementation of the Plan and pursuant to the Plan, the Company converted from a corporation to a limited liability company by filing a Certificate of Conversion and Certificate of Formation with the Secretary of State of the State of Delaware and adopted a Limited Liability Company Agreement.
Item 8.01 Other Events
Deregistration of Common Stock
In conjunction with its emergence from bankruptcy, Reorganized Centric intends to file post-effective amendments to all of the Company's currently effective Registration Statements on Form S-8 and to promptly file a Form 15 with the Securities and Exchange Commission (the "
SEC
") to deregister its securities under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "
Exchange Act
"), and suspend each its reporting obligations under Sections 13(a) and 15(d) of the Exchange Act. Upon the filing of the Form 15, Reorganized Centric's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, will be immediately suspended.
Press Release
On the Effective Date, Reorganized Centric issued a press release announcing its emergence from the restructuring process and successful consummation of the Plan. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 8.01.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits
The following exhibits are filed with this report:
Exhibit
Number
Description
99.1
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Press Release of Centric Brands, LLC
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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CENTRIC BRANDS INC.
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Date:  October 13, 2020
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By:
/s/ Anurup Pruthi
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Name:
Anurup Pruthi
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Title:
Chief Financial Officer
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