Distressed denim brand Rock & Republic appears to have extracted itself from a complicated spring bankruptcy with an infusion of $60 million from investor Blue Star Alliance, the New York Post reports.
Blue Star also owns Liz Lange Maternity and has a stake in the Sharper Image.
Terms of the deal were not disclosed, but the newspaper reports that it calls for Rock & Republic's controversial CEO and founder Michael Ball to remain the creative force behind the brand as he pays off creditors to the tune of a cool $41 million.
The investment should be no problem for Blue Star's deep (denim?) pockets.The firm claims to control brands with retail sales totaling $1.5 billion, according to its official website.
This last minute deal means Ball -- whose volatile reputation and demands reportedly scared off many potential investors as he attempted to restructure the company -- can get back to designing lines he once boasted produced $120 million in annual sales.
The edgy biker, who claims his brand was born after designing "one killer pair of jeans for his girlfriend," has made no public comment on the developments.
There's also no word on how the deal will impact the brand's nascent cosmetics line (rumored to be shuttering because of the financial woes) or its aptly named Recession Collection.
In related news, Steve Madden recently bailed out Betsey Johnson.