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Fashion retailer BCBG Max Azria Group has reached an agreement to sell most of its assets to brand acquisition and development company Marquee Brands, and apparel and footwear company, Global Brands Group Holding Limited for an undisclosed amount.

The bids enable the fashion house to enter a comprehensive restructuring process.

A U.S. Bankruptcy Court still has to approve the sale with an expected closing date no later than July 31, 2017. BCBG filed for Chapter 11 bankruptcy in March, resulting in the closing of more than 100 stores.

The buyers intend…