Centric Brands (CTRC) 10-K 15 May 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	May 15, 2019	Jun. 29, 2018
Document and Entity Information
Entity Registrant Name	Centric Brands Inc.
Entity Central Index Key	0000844143
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 42.9
Entity Common Stock, Shares Outstanding		58,542,641
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 29,519	$ 8,250
Accounts receivable, net	27,910	22,246
Sold receivables, net	33,825
Inventories	342,952	31,733
Prepaid expenses and other current assets	48,378	4,832
Total current assets	482,584	67,061
Property and equipment, net	93,044	8,417
Goodwill	376,132	8,380
Intangible assets, net	897,470	89,332
Other assets	9,725	484
Total assets	1,858,955	173,674
Current liabilities
Accounts payable and accrued expenses	525,863	22,204
Current portion of long-term debt	11,602	16,507
Total current liabilities	537,465	38,711
Line of credit		21,254
Convertible notes	36,235	13,866
Long-term debt, net of current portion	1,195,297	44,896
Deferred income taxes, net		6,650
Other non-current liabilities	6,581	3,554
Total liabilities	1,775,578	128,931
Commitments and contingencies (Note 11)
Equity
Series A convertible preferred stock, $0.10 par value: zero shares and 50,000 shares authorized, issued and outstanding at December 31, 2018 and 2017, respectively		5
Common stock, $0.10 par value: 100,000,000 shares authorized, 58,363,740 and 13,488,366 shares issued and outstanding at December 31, 2018 and 2017, respectively	5,836	1,349
Additional paid-in capital	218,240	61,314
Accumulated other comprehensive income	487	271
Accumulated deficit	(141,186)	(18,196)
Total equity	83,377	44,743
Total liabilities and equity	$ 1,858,955	$ 173,674

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED BALANCE SHEETS
Convertible preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Convertible preferred stock, shares authorized	0	50,000
Convertible preferred stock, shares issued	0	50,000
Convertible preferred stock, shares outstanding	0	50,000
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	58,363,740	13,488,366
Common stock, shares outstanding	58,363,740	13,488,366

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
Net sales	$ 596,602	$ 164,053
Cost of goods sold	435,867	92,303
Gross profit	160,735	71,750
Operating expenses
Selling, general and administrative	145,136	62,030
Depreciation and amortization	19,351	6,061
Other operating expense, net	87,807	2,583
Total operating expenses	252,294	70,674
Operating income (loss)	(91,559)	1,076
Interest expense	(38,327)	(8,844)
Other expense (income), net	(193)	21
Total other expense	38,134	8,865
Loss before income taxes	(129,693)	(7,789)
Income tax benefit	(5,927)	(5,331)
Net loss	(123,766)	(2,458)
Net loss attributable to common stockholders	(129,910)	(7,938)
Net loss	(123,766)	(2,458)
Other comprehensive income, net of tax:
Foreign currency translation adjustment	216	492
Other comprehensive income	216	492
Comprehensive loss	$ (123,550)	$ (1,966)
Loss per common share - basic
Loss per common share - basic (in dollars per share)	$ (6.02)	$ (0.60)
Loss per common share - diluted
Loss per common share - diluted (in dollars per share)	$ (6.02)	$ (0.60)
Weighted average shares outstanding
Basic (in shares)	21,569	13,313
Diluted (in shares)	21,569	13,313

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common StockPreferred Series A	Common StockPreferred Series A-1	Common Stock	Additional Paid-In CapitalPreferred Series A	Additional Paid-In CapitalPreferred Series A-1	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Preferred Series A	Preferred Series A-1	Total
Balance at Dec. 31, 2016			$ 1,324			$ 59,154	$ (221)	$ (15,738)	$ 5		$ 44,524
Balance (in shares) at Dec. 31, 2016			13,239,000						50,000
Increase (Decrease) in Stockholders' Equity
Stock-based compensation						2,340					2,340
Issuance of restricted common stock, net of taxes withheld			$ 25			(180)					(155)
Issuance of restricted common stock, net of taxes withheld (in shares)			249,000
Foreign currency translation							492				492
Net loss								(2,458)			(2,458)
Balance at Dec. 31, 2017			$ 1,349			61,314	271	(18,196)	$ 5		$ 44,743
Balance (in shares) at Dec. 31, 2017			13,488,000						50,000		13,488,366
Increase (Decrease) in Stockholders' Equity
Issuance of common stock			$ 3,309			140,342					$ 143,651
Issuance of common stock (in shares)			33,095,000
Issuance of Series A-1 convertible preferred stock						13,305				$ 459	13,764
Issuance of Series A-1 convertible preferred stock (in shares)										4,588,000
Stock-based compensation						5,096					5,096
Issuance of restricted common stock, net of taxes withheld			$ 98			(1,201)					(1,103)
Issuance of restricted common stock, net of taxes withheld (in shares)			978,000
Conversion of preferred stock	$ 585	$ 495		$ (580)	$ (36)				$ (5)	$ (459)
Conversion of preferred stock (in shares)	5,852,000	4,951,000							(50,000)	(4,588,000)
Foreign currency translation							216				216
Net loss								(123,766)			(123,766)
Balance at Dec. 31, 2018			$ 5,836			$ 218,240	$ 487	(141,186)			$ 83,377
Balance (in shares) at Dec. 31, 2018			58,364,000								58,363,740
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adoption of ASC 606								$ 776			$ 776

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (123,766)	$ (2,458)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of inventory step up	23,594
Depreciation and amortization	19,351	6,061
Deferred taxes	(6,250)	(4,547)
Stock-based compensation	5,096	2,340
Paid-in-kind interest	4,817	1,662
Amortization of deferred financing costs and discounts	4,334	1,127
Other operating activity	704	562
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable	(286,661)	(2,342)
Accounts payable and accrued expenses	(87,709)	4,107
Inventories	35,458	(7,644)
Prepaid expenses and other assets	12,658	(519)
Other liabilities	757	(75)
Net cash used in operating activities	(397,617)	(1,726)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition, net of cash acquired	(1,179,669)
Collections of sold receivables	312,966
Purchases of property and equipment	(1,456)	(1,127)
Net cash used in investing activities	(868,159)	(1,127)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock	143,651
Proceeds from issuance of long-term debt	1,252,133
Repayment of long-term debt	(47,935)	(938)
Proceeds (repayment) from line of credit, net	(21,852)	7,708
Proceeds from long-term convertible note	25,000
Payment of deferred financing costs	(62,772)	(124)
(Repayment of) proceeds from customer cash advances		(1,707)
Taxes paid in lieu of shares issued for stock-based compensation	(1,103)	(270)
Net cash provided by financing activities	1,287,122	4,669
Effect of exchange rate changes on cash and cash equivalents	(77)	(42)
NET CHANGE IN CASH AND CASH EQUIVALENTS	21,269	1,774
CASH AND CASH EQUIVALENTS, at beginning of year	8,250	6,476
CASH AND CASH EQUIVALENTS, at end of year	29,519	8,250
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	8,125	4,768
Income taxes paid	179	$ 192
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Beneficial interest obtained in exchange for securitized trade receivables	269,411
Conversion of short-term convertible notes	$ 13,764

Business Description and Basis

Business Description and Basis of Presentation	12 Months Ended
	Dec. 31, 2018
Business Description and Basis of Presentation
Business Description and Basis of Presentation	1. Business Description and Basis of Presentation Centric Brands Inc. ( “Centric” ) is a global leader in the design, marketing, and distribution of premium lifestyle products, including kid's, men's & women's apparel and accessories, and other licensed or private label product categories. The Company's distinctive image has been developed across an expanding number of products, brands, sales channels and markets. The Company's Owned Brands include Hudson®, Robert Graham®, and SWIMS®. Additionally, the Company licenses brands which are sold in various product categories primarily in North America. Licensed brands include Calvin Klein®, Tommy Hilfiger®, Nautica®, Under Armour®, BCBG®, Buffalo Jeans®, Joe’s Jeans®, and Michael Kors®. Centric and its subsidiaries are collectively referred to herein as the “Company,” “we,” “us,” “our,” and “ourselves,” unless the context indicates otherwise. On October 29, 2018, the Company acquired from Global Brands Group Holding Limited’s (“ GBG ”) and GBG USA Inc., a wholly-owned subsidiary of GBG (“ GBG USA ”) a significant part of GBG’s North American business (“ GBG Acquisition ”), including the wholesale, retail and e-commerce operations, comprising all of their North American kids business, all of their North American accessories business and a majority of their West Coast and Canadian fashion businesses. Effective upon the consummation of the GBG Acquisition, the Company changed its name from Differential Brands Group Inc. to Centric Brands Inc. and changed its trading symbol on The Nasdaq Stock Market LLC (“ NASDAQ ”) from DFBG to CTRC. Prior to the GBG Acquisition, the Company organized its business into the following three reportable segments: Wholesale, Consumer Direct and Corporate and other. Subsequent to the GBG Acquisition, the Company implemented organizational changes that have impacted the manner in which it manages the Company. Accordingly, the Company realigned its business into the following three reportable segments: Kids, Accessories, and Men’s & Women’s Apparel. See “Note 15 – Segment Reporting and Operations by Geographic Areas”. All prior period segment information has been reclassified to reflect the realignment of our segment reporting structure on a comparable basis. The Company continues to be a “smaller reporting company,” as defined under the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”). The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company, including its wholly-owned and majority-owned subsidiaries. All material intercompany accounts and transactions have been eliminated. We do not have any investments in companies that represent less than 20% of the related ownership interests. Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of estimates relate primarily to allowance for bad debts, returns, sales allowances, and customer chargebacks, inventory write-downs, valuation of goodwill, intangible and long-lived assets, and valuation of deferred income taxes. Actual results could differ from these estimates. Revenue Recognition The Company adopted Accounting Standards Codification ( “ASC 606” ), Revenue from Contracts with Customers , with a date of initial application of January 1, 2018. As a result, the Company has changed its accounting policy for revenue recognition as described below. The Company applied ASC 606 using the modified retrospective approach – i.e. by recognizing the cumulative effect of initially applying ASC 606 as an adjustment to the opening balance of equity at January 1, 2018. Therefore, the comparative information has not been adjusted and continues to be reported under ASC 605. The details of the significant changes and quantitative impact of the changes are set out below. The Company applied the modified retrospective approach only to contracts that were not complete as of the date of the initial application, January 1, 2018. Effective January 1, 2018, wholesale revenues are recorded when a contract with the customer is agreed to by both parties and product has been transferred, which generally occurs at the point of shipment from the Company’s warehouse, and recorded at the transaction price based on the amount the Company expects to receive. Collection is probable as the majority of shipments occur to reputable credit worthy businesses and through factored relationships which guarantee payment. Estimated reductions to revenue for customer allowances are recorded based upon history as a percentage of sales and current outstanding chargebacks. The Company may allow for returns based upon pre-approval or in the case of damaged goods. Such returns are estimated based on historical experience and also specific claims filed by the customer. Beginning January 1, 2018, a refund liability is included in accounts payable and accrued expenses within the accompanying consolidated balance sheet, which was previously recorded net of accounts receivable. Also, effective January 1, 2018, the Company records a return asset receivable in prepaid expenses and other current assets within the accompanying consolidated balance sheet. Prior to January 1, 2018, inventory expected to be returned was recorded within inventories. The return asset receivable is evaluated for impairment each period. The Company recorded a decrease of $569 thousand to opening accumulated deficit as of January 1, 2018 to record the return asset receivable and related impairment charge. Retail store revenue is recognized at the time the customer takes possession of the related merchandise. Revenue for ecommerce sales of products ordered through the Company’s retail internet sites are recognized at the point of shipment to the customer. Prior to January 1, 2018, revenue for ecommerce sales was recorded at the point of delivery to the customer. The Company recorded an adjustment to increase the opening accumulated deficit as of January 1, 2018 by $39 thousand, to reflect the impact on ecommerce shipments from adopting ASC 606. Ecommerce revenue was reduced by an estimate for returns based on the historical rate of return as a percent of sales. Retail store revenue and ecommerce revenue exclude sales taxes collected from the customer. Revenue from licensing arrangements is recognized based on actual sales when the Company expects royalties to exceed the minimum guarantee. For licensing arrangements in which the Company does not expect royalties to exceed the minimum guarantee, an estimate of the transaction price is recognized on a straight-line basis over the term of the contract. A contract asset is recorded for revenue recognized in advance of the contract payment terms, which is included in other assets within the accompanying consolidated balance sheet. Nonrefundable upfront fees are recorded as a contract liability and revenue is recognized straight-line over the term of the contract. Contract liabilities are included in other liabilities within the accompanying consolidated balance sheet. Prior to January 1, 2018, revenue from licensing arrangements was recognized when earned in accordance with the terms of the underlying agreements and deemed collectible, generally based upon the higher of (a) the contractually guaranteed minimum royalty or (b) actual net sales data received from licensees. The Company recorded an adjustment to increase the opening accumulated deficit as of January 1, 2018, by $1.3 million, to reflect the impact on licensing revenue from adopting ASC 606. Amounts related to shipping and handling that are billed to customers are considered to be activities to fulfill a promise to transfer the goods and are reflected in net sales, and the related costs are reflected in cost of goods sold within the accompanying consolidated statements of operations and comprehensive (loss) income. This accounting treatment is consistent with the Company’s treatment of shipping and handling revenue prior to January 1, 2018. The adoption of ASC 606 had no net impact on the Company's consolidated statement of cash flows for the year ended December 31, 2018. Business Combinations The Company accounts for business acquisitions under ASC 805, Business Combinations . The total purchase consideration for an acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities assumed at the acquisition date. Costs that are directly attributable to the acquisition are expensed as incurred. Identifiable assets (including intangible assets), liabilities assumed (including contingent liabilities) and noncontrolling interests in an acquisition are measured initially at their fair values at the acquisition date. The Company recognizes goodwill if the fair value of the total purchase consideration and any noncontrolling interests is in excess of the net fair values of the identifiable assets acquired and the liabilities assumed. The Company recognizes a bargain purchase gain within other income (expense), net, on the consolidated statement of operations if the net fair value of the identifiable assets acquired and the liabilities assumed is in excess of the fair value of the total purchase consideration and any noncontrolling interests. The Company includes the results of operations of the acquired business in the consolidated financial statements beginning on the acquisition date. Cash Equivalents All highly liquid investments that are both readily convertible into known amounts of cash and mature within 90 days from their date of purchase are considered to be cash equivalents. Such investments are stated at cost, which approximates fair value. Accounts Receivable, Factored Accounts Receivable and Allowance for Bad Debts, Sales Allowances, and Customer Chargebacks The Company evaluates its ability to collect accounts receivable, factor accounts receivable with recourse and charge-backs (customer disputes) based upon a combination of factors. Reserves for chargebacks are recognized based on historical collection experience. A specific reserve for bad debts is taken against amounts due to reduce the net recognized receivable to the amount reasonably expected to be collected. Whether a receivable is past due is based on how recently payments have been received and in certain circumstances when the Company is aware of a specific customer’s inability to meet its financial obligations (e.g., bankruptcy filings, substantial downgrading of credit sources, etc.). Amounts are written off against the reserve once it is established that it is remote such amounts will be collected. The Company also reserves for potential sales returns and allowances based on historical trends. Inventories Inventory is valued at the lower of cost or net realizable value with cost determined by the first-in, first-out method. Inventory consists of finished goods, work-in-process and raw materials. The Company continually evaluates its inventory by assessing slow moving current product. Net realizable value of non-current inventory is estimated based on historical sales trends, the impact of market trends, an evaluation of economic conditions and the value of current orders relating to future sales. Inventory reserves establish a new cost basis for inventory. Such reserves are not reversed until the related inventory is sold or otherwise disposed of. Costs capitalized in inventory include the purchase price of raw materials, contract labor and production costs, plus in-bound transportation costs, and import fees and duties. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation and amortization is calculated using the straight - line method over the following estimated useful lives of the assets: Computer and equipment: 3 to 7 years Furniture and fixtures: 3 to 7 years Leasehold improvements: Shorter of 10 years or term of lease Maintenance and repairs are charged to expense as incurred. Upon sale or retirement, the asset cost and related accumulated depreciation or amortization is removed from the accounts, and any related gain or loss is included within selling, general and administrative expenses within the accompanying consolidated statements of operations and comprehensive income (loss). Impairment of Long‑Lived Assets, Intangible Assets and Goodwill The Company assesses the impairment of long - lived assets, identifiable intangible assets and goodwill whenever events or changes in circumstances indicate that the carrying value may not be recoverable. In addition, the Company assesses goodwill and indefinite lived intangible assets for impairment annually. Factors considered important that could trigger an impairment review other than on an annual basis include the following: · A significant underperformance relative to historical or projected future operating results; · A significant change in the manner of the use of the acquired asset or the strategy for the overall business; or · A significant negative industry or economic trend. The estimated cash flows used for this nonrecurring fair value measurement are considered a Level 3 input as defined in “Note 13 – Fair Value Measurement of Financial Instruments.” Impairment of Long‑Lived Assets and Intangible Assets Subject to Amortization When the Company determines that the carrying value of long‑lived assets, such as property and equipment, and intangible assets subject to amortization, may not be recoverable based upon the existence of one or more of the aforementioned factors and the carrying value exceeds the estimated undiscounted cash flows expected to be generated by the asset, impairment is measured based on a projected discounted cash flow method using a discount rate determined by management. These cash flows are calculated by netting future estimated sales against associated merchandise costs and other related expenses such as payroll, occupancy and marketing. The impairment loss calculations require management to apply judgment in estimating future cash flows and the discount rates that reflect the risk inherent in future cash flows. Future expected cash flows for retail store assets are based on management’s estimates of future cash flows over the remaining lease period or expected life, if shorter. The Company considers historical trends, expected future business trends and other factors when estimating each store’s future cash flow. The Company also considers factors such as: the local environment for each store location, including mall traffic and competition; the ability to successfully implement strategic initiatives; and the ability to control variable costs such as cost of sales and payroll, and in some cases, costs to renegotiate a lease. If actual results are not consistent with the assumptions and judgments used in estimating future cash flows and asset fair values, there may be additional exposure to future impairment losses that could be material to the Company’s results of operations. There were no impairment charges recorded during the year ended December 31, 2018 and an immaterial amount recorded during the year ended December 31, 2017. Intangible assets subject to amortization, such as customer relationships, are amortized over their estimated useful lives. There was no impairment charge recorded related to intangible assets subject to amortization during the years ended December 31, 2018 and 2017. Goodwill and Indefinite Lived Intangible Assets Goodwill and intangible assets with indefinite lives, such as trademarks, are not amortized, but are tested at least annually for impairment on December 31 of each year or when circumstances indicate their carrying value may not be recoverable. Goodwill is evaluated for impairment by determining the fair value of each reporting unit and comparing this value to its carrying value. If the fair value exceeds the carrying value, including goodwill, no further work is required and no impairment loss would be recognized. If the carrying value exceeds the fair value of the assets, goodwill impairment is recorded for the amount that the reporting unit's carrying amount exceeds its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company calculates the value of the indefinite lived intangible assets using a discounted cash flow method, based on the relief from royalty method. There was no impairment charge recorded related to indefinite lived intangible assets or goodwill during the years ended December 31, 2018 and 2017. Deferred Rent and Tenant Allowances When a lease includes lease incentives (such as a rent holiday) or requires fixed escalations of the minimum lease payments, rental expense is recognized on a straight‑line basis over the term of the lease starting from the date of possession and the difference between the average rental amount charged to expense and amounts payable under the lease is included in deferred rent in the accompanying consolidated balance sheets. Deferred rent also includes tenant allowances received from landlords which are amortized as a reduction to rent expense on a straight-line basis over the term of the lease starting at the date of possession. Deferred Financing Costs Deferred financing costs are amortized using the effective interest rate method over the term of the related agreements and recorded as a component of interest expense in the accompanying consolidated statements of operations and comprehensive income (loss). Amortization of deferred financing costs included in interest expense was approximately $3.1 million and $0.4 million for the years ended December 31, 2018 and 2017, respectively. Deferred financing costs are presented on the consolidated balance sheets as a direct reduction of the related debt or in other assets. Cost of Goods Sold Cost of goods sold includes the following: the cost of merchandise; customs related taxes and duties; production costs, including directly attributable overhead costs; delivery expense; in-bound and outbound freight; obsolescence and shrink provisions; design costs; warehousing and handling costs; and other inventory acquisition related costs. Under our license agreements, we are generally required to pay guaranteed minimum royalties and make specified additional royalty and advertising payments (usually based on a percentage of net sales). Such payments are recognized within costs of sales at the higher of royalties incurred or on a straight line basis over the period covered by the guaranteed minimums. Selling, General and Administrative Expenses Selling, general and administrative expenses include salaries and benefits, travel and entertainment, professional fees, advertising, marketing, facilities, and bad debt expense. Advertising Costs Advertising costs are charged to expense as incurred, except for direct to consumer advertising, which is capitalized and amortized over its expected period of future benefit. Advertising expenses included in selling, general and administrative expenses within the accompanying consolidated statements of operations and comprehensive income (loss) were $13.9 million and $9.5 million for the years ended December 31, 2018 and 2017, respectively. Prepaid advertising costs were $5.3 million and $0.9 million at December 31, 2018 and 2017, respectively. Stock‑Based Compensation The cost of all employee stock‑based compensation awards is measured based on the grant date fair value of those awards and recorded as compensation expense over the period during which the employee is required to perform service in exchange for the award (generally over the vesting period of the award). The cost of all non-employee stock‑based compensation awards is measured based on the grant date fair value of those awards and revalued each reporting period, and is recorded as compensation expense over the service period. For all stock based compensation awards that contain graded vesting based on service conditions, the Company has elected to apply a straight‑line recognition method to account for these awards. See “Note 14 – Equity.” Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred taxes are determined based on the temporary differences between the net book value and tax bases of assets and liabilities using enacted tax rates. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. Quarterly, management reassesses the need for a valuation allowance. The likelihood of a material change in the expected realization of these assets depends on the Company’s ability to generate sufficient future taxable income. The ability to generate enough taxable income to utilize the deferred tax assets depends on many factors, among which is the Company’s ability to deduct tax loss carry‑forwards against future taxable income, the effectiveness of tax planning strategies and reversing deferred tax liabilities. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. See “Note 18 – Income Taxes” for the impact of the Tax Act. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based upon a full knowledge of the facts and the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based upon the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. The Company’s policy is to recognize interest and penalties that would be assessed in relation to the settlement value of unrecognized tax benefits as a component of income tax benefit within the accompanying consolidated statements of operations and comprehensive income (loss). Comprehensive Loss Comprehensive loss represents the change in equity resulting from transactions other than stockholder investments and distributions. Accumulated other comprehensive income includes changes in equity that are excluded from net loss, specifically, unrealized gains and losses on foreign currency translation adjustments and is presented within the consolidated statements of equity. The Company presents the components of comprehensive loss within the consolidated statements of operations and comprehensive loss. Foreign Currency Translation The Company’s wholly owned direct foreign operations present their financial reports in the currency used in the economic environment in which they mainly operate, known as the functional currency. Assets and liabilities in foreign subsidiaries are translated into U.S. dollars at the exchange rate as of the balance sheet date, while revenues and expenses are translated using the average monthly exchange rate. Gains and losses from these foreign currency translation adjustments are recognized within accumulated other comprehensive income/loss within the accompanying consolidated statements of equity. Loss per Share Basic loss per share, or EPS, is computed using net loss attributable to common stockholders and the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common and potentially dilutive common shares outstanding during the period except for periods of net loss for which no common share equivalents are included because their effect would be anti‑dilutive. Dilutive common equivalent shares consist of common stock issuable upon exercise of stock options, restricted stock and restricted stock units using the treasury stock method. Dilutive common stock equivalent shares issuable upon conversion of the Company’s outstanding convertible notes are calculated using the if‑converted method. The Company calculated basic and diluted loss per common share for the year ended December 31, 2017 using the two-class method. Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all of the net earnings for the period had been distributed. The Company’s participating securities as of December 31, 2017 consisted of convertible preferred shares that contained a nonforfeitable right to receive dividends and therefore were considered to participate in undistributed earnings with common stockholders. Concentration of Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents, accounts receivable and factored accounts receivable. The Company maintains cash and cash equivalents with various financial institutions. The policy is designed to limit exposure to any one institution. Periodic evaluations are performed of the relative credit rating of those financial institutions that are considered in the Company’s investment strategy. The vast majority of trade receivables from sales to customers are subsequently sold to a financial institution pursuant to a trade receivables securitization facility. The sale of trade receivables are made on a recourse basis however are guaranteed through credit insurance purchased from an unrelated financial institution. When insured, the Company is not at risk if a customer fails to pay. For trade receivables not sold to a financial institution, the Company generally does not require collateral. As of December 31, 2018, the net deferred purchase price of trade receivables sold pursuant to the RPA (as defined below) totaled $33.8 million. The RPA was not in place as of December 31, 2017 (see “Note 4 – Factored Accounts and Receivables”). The Company provides an allowance for estimated losses to be incurred in the collection of accounts receivable based upon the aging of outstanding balances and other account monitoring analysis. The net carrying value approximates the fair value for these assets. Such losses have historically been within management’s expectations. Uncollectible accounts are written off once collection efforts are deemed by management to have been exhausted. For the years ended December 31, 2018 and 2017, sales to customers or customer groups representing 10 percent or greater of net sales are as follows: Year ended December 31, 2018 2017 Customer A 14 % 15 % Fair Value of Financial Instruments Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. ASC 820 , Fair Value Measurements and Disclosures also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of us. Unobservable inputs are inputs that reflect our assumptions about the factors market participants would use in valuing the asset or liability. The guidance establishes three levels of inputs that may be used to measure fair value: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. The fair value of financial instruments held (which consist of cash and cash equivalents, accounts receivable, factored accounts receivable and accounts payable) do not differ materially from their recorded amounts because of the relatively short period of time between origination of the instruments and their expected realization. The carrying amounts of the line of credit and long-term debt approximate fair value because of the variable interest rates. The fair value of the Company’s outstanding convertible notes is based on the amount of future cash flows associated with the instrument discounted using the incremental borrowing rate, which are considered Level 3 liabilities. As a part of our working capital management, we sell certain accounts receivable through a third party financial institution in off-balance sheet arrangements. The amount sold varies each month based on the amount of underlying receivables and cash flow needs. As of December 31, 2018 and 2017, we had $424.2 million and zero, respectively, of receivables outstanding under receivable factoring agreements entered into by various entities. Expenses incurred on the sale of receivables were $1.7 million and $0.0 million for the years ended December 31, 2018 and 2017, respectively. These amounts are recorded in interest expense in the consolidated statements of operations. Financial Accounting Standards Recently Adopted In June 2018, the FASB Issued Accounting Standards Update ( “ASU” ) No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting . This update expands the scope of ASC 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Under ASU No. 2018-07, Nonemployee share based payment awards are measured at grant-date fair value of the equity instruments that an entity is obligated to issue when the good has been delivered or the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. Consistent with the accounting for employee share-based payment awards, an entity considers the probability of satisfying performance conditions when nonemployee share-based payment awards contain such conditions. Generally, the classification of equity-classified nonemployee share-based payment awards will continue to be subject to the requirements of ASC 718 unless modified after the good has been delivered, the service has been rendered, any other conditions necessary to earn the right to benefit from the instruments have been satisfied, and the nonemployee is no longer providing goods or services. This eliminates the requirement to reassess classification of such awards upon vesting. The Company adopted ASU No. 2018-07 in the fourth quarter of 2018 and there was no significant impact of adoption on the consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of ASU No. 2016-15 is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic. ASU No. 2016-15 is effective for annual and interim periods beginning after December 15, 2017, and early adoption is permitted for all entities. Entities must apply the guidance retrospectively to all periods presented but may apply it prospectively from the earliest date practicable if retrospective application would be impracticable. The Company adopted ASU No. 2016-15 in the first quarter of 2018 and there was no impact on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, ASC 606. This amendment prescribes that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The amendment supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. For the Company’s annual and interim reporting periods, the mandatory adoption date of ASC 606 is January 1, 2018, and two methods of adoption are allowed, either a full retrospective adoption or a modified retrospective adoption. Between May 2014 and May 2017, the FASB issued many ASUs to amend ASU No. 2014-09. The effective dates for these ASUs were the same as the effective date for ASU No. 2014-09, for the Company’s annual and interim periods beginning January 1, 2018. These ASUs also require enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows. The Company adopted ASU No. 2014-09 standards and subsequent amendments in the first quarter of 2018 using the modified retrospective approach. Refer to Revenue Recognition above for a discussion regarding the impact on the Company’s financial statements. Recently Issued Financial Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which modifies lease accounting for lessees to increase transparency and comparability by recording lease assets and liabilities for operating leases and disclosing key information about leasing arrangements. The Company plans to adopt ASC 842 on January 1, 2019 utilizing the modified retrospective transition method. The Company is currently evaluating the impact that ASU 2016-02 will have on its consolidated financial statements. While the Company continues to assess all of the effects of adoption based on the lease portfolio as of December 31, 2018, we currently expect to record lease liabilities of approximately $221 million with corresponding right-of-use assets of approximately $214 million. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses — Measurement of Credit Losses on Financial Instruments , an accounting standards update that introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. This includes accounts receivable, trade receivables, loans, held-to-maturity debt securities, net investments in leas

GBG Acquisition

GBG Acquisition	12 Months Ended
	Dec. 31, 2018
GBG Acquisition
GBG Acquisition	3. GBG Acquisition On October 29, 2018, the Company completed the GBG Acquisition. To finance the acquisition, the Company entered into the Credit Agreements. The First Lien Credit Agreement provides for a senior secured asset based revolving credit facility with commitments in an aggregate principal amount of $150 million and a senior secured term loan credit facility in an aggregate principal amount of $645 million. The Second Lien Credit Agreement provides for a second lien term loan facility in an aggregate principal amount of $668 million. See “Note 12 – Debt” for a discussion of the terms of the Credit Agreements. The GBG Acquisition qualified as a business combination and was accounted for under the acquisition method of accounting. Business acquisitions are accounted for under the acquisition method by assigning the purchase price to tangible and intangible assets acquired and liabilities assumed. Assets acquired and liabilities assumed are recorded at their fair values and the excess of the purchase price over the amounts assigned is recorded as goodwill. Purchased intangible assets with finite lives are amortized over their estimated useful lives. Goodwill and intangible assets with indefinite lives are not amortized but are tested at least annually for impairment or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The purchase price allocation is subject to adjustment until the Company has completed its analysis within the measurement period. The purchase price allocation is preliminary and the finalization of the Company's purchase price allocation may result in changes in the valuation of assets acquired and liabilities assumed. The Company will finalize the purchase price allocation as soon as practicable, but not to exceed one year following October 29, 2018. The following table summarizes the allocation of the preliminary purchase price for the GBG Acquisition as of October 29, 2018 (in thousands): Purchase Price Allocation Assets acquired and liabilities assumed: Accounts receivable $ 65,106 Inventories 371,605 Prepaid expenses and other current assets 56,380 Property and equipment 86,971 Other assets 41 Accounts payable and accrued expenses (589,849) Intangible assets and liabilities acquired: Goodwill 367,725 Leasehold interests (2,310) Customer relationships 824,000 Preliminary purchase price $ 1,179,669 The purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed in the GBG Acquisition based on their estimated fair values as of the acquisition date. The fair values of assets acquired and liabilities assumed represent management’s estimate of fair value based on information obtained from various sources, including management’s historical experience. As a result of the fair value assessment, inventory acquired was stepped up to fair value by the amount of $32.4 million. During the year ended December 31, 2018 we recognized $23.6 million within cost of goods sold related to the stepped up fair value of inventory acquired. The estimated fair value of the acquired tangible and intangible assets and liabilities assumed were determined using multiple valuation approaches depending on the type of tangible or intangible asset acquired, including but not limited to the income approach, the excess earnings method, the with versus without method, net realizable value method and the relief from royalty method approach. The amount of goodwill represents the excess of the GBG Acquisition purchase price over the net identifiable assets acquired and liabilities assumed. Goodwill primarily represents, among other factors, the value of synergies expected to be realized by integration with the Company and expected positive cash flow and return on capital projections from the integration. Goodwill arising from the acquisition of the GBG Business was determined as the excess of the purchase price over the net acquisition date fair values of the acquired assets and the liabilities assumed, and is not deductible for income tax purposes subject to certain tax elections that are currently being considered. The Company has determined the useful life of the acquired customer relationships are finite and will be amortized over their useful lives. However, the assets will be tested for impairment if events or changes in circumstances indicate that the assets might be impaired. The Company incurred $39.8 million in non-recurring acquisition-related transaction costs related to the acquisition of the GBG Business during the year ended December 31, 2018, which is included in selling, general, and administrative expense within the accompanying consolidated statement of operations and comprehensive loss. GBG USA, through various affiliates and third parties, currently provides a number of critical services to us, such as information technology services, financial systems, shared real estate and logistics support through a transition services agreement. Pro forma financial information (unaudited) The following table presents our unaudited pro forma results (in thousands, except per share data) for the years ended December 31, 2018 and 2017, respectively, as if the GBG Acquisition had occurred on January 1, 2017. The unaudited pro forma financial information presented includes the effects of adjustments related to the amortization of acquired tangible and intangible assets, and excludes other non-recurring transaction costs directly associated with the acquisition such as legal and other professional service fees. Statutory rates were used to calculate income taxes. Year ended December 31, 2018 2017 (in thousands) Net sales $ 2,302,195 $ 2,244,604 Cost of goods sold 1,785,871 1,691,199 Gross margin 516,324 553,405 Gross margin % of net sales 22.4 % 24.7 % Operating expenses Selling, general and administrative 569,726 423,392 Depreciation and amortization 90,241 92,554 Total operating expenses 659,967 515,946 Operating (loss) income (143,643) 37,459 Interest expense 156,329 152,082 Gain on contingent consideration (17,675) (18,687) Loss before income taxes (282,297) (95,936) Income tax benefit 5,927 5,331 Net loss $ (276,370) $ (90,605) Loss per common share – basic $ (4.75) $ (1.58) Loss per common share – diluted $ (4.75) $ (1.58) Weighted average shares outstanding basic and diluted 58,143 57,516 The unaudited pro forma financial information as presented above is for information purposes only and is not necessarily indicative of the actual results that would have been achieved had the GBG Acquisition occurred at the beginning of the earliest period presented or the results that may be achieved in future periods.

Factored Accounts and Receivabl

Factored Accounts and Receivables	12 Months Ended
	Dec. 31, 2018
Factored Accounts and Receivables
Factored Accounts and Receivables	4. Factored Accounts and Receivables PNC Receivables Facility In October 2018, in connection with the GBG Acquisition, the Company entered into a three-year trade receivables securitization facility (the “ PNC Receivables Facility ” ) pursuant to (i) a Purchase and Sale Agreement, among certain subsidiaries of the Company, as “ Originators, ” and Spring Funding, LLC (“ Spring ”), a wholly owned, bankruptcy-remote special purpose subsidiary of the Company, as “ Buyer ” (the “ PSA ”) and (ii) a Receivables Purchase Agreement among Spring, 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 (the “ RPA ”). Other subsidiaries of the Company may later enter into the Receivables Facility. At the end of the initial three year term, the Purchasers may elect to renew their commitments under the RPA. Under the terms of the PSA, the Originators sell or contribute certain of their trade accounts receivable, related collections and security interests to Spring on a revolving basis. Under the terms of the RPA, Spring sells to the Purchasers an undivided ownership interest in the Receivables for up to $450 million in cash proceeds. The proceeds from the Purchasers’ investment are used to finance Spring’s purchase of the Receivables from the Originators. Spring may also use the proceeds from a subordinated loan made by the Originators to Spring to finance purchases of the Receivables from the Originators. Rather than remitting to the Purchasers the amount received upon payment of the Receivables, Spring reinvests such Receivables payments to purchase additional Receivables from the Originators through the term of the agreement, subject to the Originators generating sufficient eligible Receivables to sell to Spring in replacement of collected balances. Advances under the RPA will accrue interest based on a variable rate plus a margin. CIT Factoring Agreement In January 2016, the Company entered into the amended and restated deferred purchase factoring agreement with CIT, through our subsidiaries, Robert Graham Designs LLC and Hudson (the “ CIT Factoring Agreement ”) pursuant to which the Company sells or assigns to CIT certain of the Company’s accounts receivable, including accounts arising from or related to sales of inventory and the rendering of services. Under the CIT Factoring Agreement, the Company pays factoring rates based on service type and credit profile of our customers. In connection with the GBG Acquisition, we amended the CIT Factoring Agreement to, among other things, extend the term of the CIT Factoring Agreement. The CIT Factoring Agreement may be terminated by either party upon 60 days’ written notice prior to October 29, 2023, annually with 60 days’ written notice prior to December 31 of each year thereafter, or immediately upon the occurrence of an event of default as defined in the agreement. SWIMS Factoring Agreement In August 2013, the Company entered into the amended and restated Credit Assurance and Factoring Agreement with DNB Bank ASA (“ DNB ”) through our subsidiary SWIMS (the “ SWIMS Factoring Agreement ”). The SWIMS Factoring Agreement is a combined credit assurance and factoring agreement, pursuant to which SWIMS is granted financing of up to 80% of its preapproved outstanding invoiced receivables. DNB receives an annual commission based on invoiced revenues and a quarterly commission of the maximum financing amount plus other administrative costs. The SWIMS Factoring Agreement is secured with (a) first-priority lien on SWIMS’ (i) machinery and plant (up to NOK 10.0 million) and (ii) inventory (up to NOK 10.0 million) and (b) additional liens on SWIMS’ factoring in the amount of NOK 1.0 million (first lien), NOK 4.0 million (second lien), NOK 7.0 million (third lien) and NOK 2.5 million (fourth lien). The SWIMS Factoring Agreement may be terminated by SWIMS upon 14 days’ prior written notice for any reason and by DNB upon 14 days’ prior written notice for just cause. DNB may also terminate the SWIMS Factoring Agreement without any prior written notice in the event of a material breach by SWIMS. Accounts receivables consisted of the following (in thousands): December 31, 2018 December 31, 2017 Non-recourse receivables sold $ 380,595 $ — Recourse receivables sold 43,630 — Total receivables sold 424,225 — Purchase price of sold receivables (364,900) — Allowances and bad debt (25,500) — Sold receivables, net $ 33,825 $ — Accounts receivable, net 27,910 27,013 Allowances and bad debt — (4,767) Total accounts receivable, net $ 27,910 $ 22,246

Inventories

Inventories	12 Months Ended
	Dec. 31, 2018
Inventories
Inventories	5. Inventories Inventories are valued at the lower of cost or net realizable value with cost determined by the first‑in, first‑out method. Inventories consisted of the following (in thousands): December 31, 2018 December 31, 2017 Finished goods $ 315,484 $ 31,245 Raw materials and work in progress 27,468 488 Total inventories $ 342,952 $ 31,733

Prepaid expenses and other curr

Prepaid expenses and other current assets	12 Months Ended
	Dec. 31, 2018
Prepaid expenses and other current assets
Prepaid expenses and other current assets	6. Prepaid expenses and other current assets Prepaid expenses and other current assets consist of the following (in thousands): December 31, 2018 December 31, 2017 Prepaid expenses $ 21,547 $ 4,740 Prepaid royalty 12,645 — Non-trade receivable 8,935 — Prepaid marketing and advertising 5,251 92 Total prepaid expenses and other current assets $ 48,378 $ 4,832

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2018
Property and Equipment
Property and Equipment	7. Property and Equipment Property and equipment consisted of the following (in thousands): December 31, 2018 December 31, 2017 Computer and equipment $ 9,638 $ 6,214 Furniture and fixtures 14,580 6,245 Leasehold improvements 77,817 9,302 102,035 21,761 Less: accumulated depreciation and amortization (17,885) (13,639) Construction in progress 8,894 295 Property and equipment, net $ 93,044 $ 8,417 Depreciation expense related to Property and Equipment totaled $3.5 million and $3.1 million for the years ended December 31, 2018 and 2017, respectively.

Intangible Assets and Liabiliti

Intangible Assets and Liabilities Goodwill	12 Months Ended
	Dec. 31, 2018
Intangible Assets and Liabilities Goodwill
Intangible Assets and Liabilities Goodwill	8. Intangible Assets and Liabilities Goodwill Intangible assets are recorded at cost, less accumulated amortization. Amortization of intangible assets with finite lives is provided for over their estimated useful lives on a straight-line basis. The life of the trade names are indefinite. Intangible assets as of December 31, 2018 consisted of the following (in thousands): Amortization Accumulated Period Gross Amount Amortization Net Amount Trade names Indefinite $ 65,887 $ — $ 65,887 Customer relationships 7 to 20 Years 859,101 27,543 831,558 Non-compete agreements 3 Years 135 110 25 Total $ 925,123 $ 27,653 $ 897,470 Intangible assets as of December 31, 2017 consisted of the following (in thousands): Amortization Accumulated Period Gross Amount Amortization Net Amount Trade names Indefinite $ 65,812 $ — $ 65,812 Customer relationships 7 to 15 Years 35,081 11,629 23,452 Non-compete agreements 3 Years 133 65 68 Total $ 101,026 $ 11,694 $ 89,332 Amortization expense related to intangible assets amounted to approximately $15.8 million and $3.0 million for the years ended December 31, 2018 and 2017, respectively. As of December 31, 2018, future amortization expense related to the finite-lived intangible assets is as follows (in thousands): 2019 $ 77,911 2020 77,889 2021 77,887 2022 77,887 2023 77,887 Thereafter 442,122 Total $ 831,583 Goodwill consisted of the following as of December 31, 2018 and December 31, 2017 (in thousands): December 31, 2018 December 31, 2017 Beginning balance $ 8,380 $ 8,271 Goodwill created by the GBG Acquisition 367,725 — Other 27 109 Ending balance $ 376,132 $ 8,380 There was no impairment charge recorded related to intangible assets or goodwill during the years ended December 31, 2018 and 2017. The purchase price allocation and calculation of goodwill created by the GBG Acquisition are still preliminary and subject to further adjustments. Accordingly, the Company has not finalized the allocation of acquired goodwill to its underlying reporting units and the final acquired goodwill may be different from the preliminary calculation of acquired goodwill presented herein.

Other assets

Other assets	12 Months Ended
	Dec. 31, 2018
Other assets
Other assets	9. Other assets Other assets consist of the following as of December 31, 2018 and December 31, 2017 (in thousands): December 31, 2018 December 31, 2017 Deferred debt financing fees $ 8,901 $ — Other receivables and deposits long-term 824 484 Total other assets $ 9,725 $ 484

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2018
Accounts Payable and Accrued Expenses
Accounts Payable and Accrued Expenses	10. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following (in thousands): December 31, 2018 December 31, 2017 Accounts payable $ 290,104 $ 7,384 Accrued expenses 128,990 5,922 Accrued royalty 56,595 — Accrued payroll and other benefits 20,814 2,236 Accrued interest 22,128 1,768 Other 7,232 4,894 Total $ 525,863 $ 22,204

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies
Commitments and Contingencies	11. Commitments and Contingencies Operating Leases The Company leases retail stores, corporate offices and showrooms under operating lease agreements expiring on various dates through July 2029. Some of these leases require us to make periodic payments for property taxes, utilities and common area operating expenses. Certain retail store leases provide for rents based upon the minimum annual rental amount and a percentage of annual sales volume. Some leases include lease incentives, rent abatements and fixed rent escalations, which are amortized and recorded over the initial lease term on a straight-line basis from the possession date. As of December 31, 2018, the future minimum rental payments under non‑cancelable operating leases with lease terms in excess of one year were as follows (in thousands): 2019 $ 44,295 2020 39,771 2021 37,722 2022 35,554 2023 31,110 Thereafter 125,863 Total $ 314,315 Rent expense was $14.2 million and $9.4 million for the years ended December 31, 2018 and 2017, respectively. Capital Leases The Company leases certain equipment under capital lease agreements expiring on various dates through March 2022. As of December 31, 2018, the future minimum rental payments under non-cancelable capital leases with lease terms in excess of one year were as follows (in thousands): 2019 $ 3,522 2020 1,033 2021 654 2022 165 2023 — Thereafter — Total $ 5,374 License Agreements Under our license agreements, we are generally required to achieve minimum net sales of licensed products, pay guaranteed minimum royalties, and make specified royalty and advertising payments, usually based on a percentage of net sales of licensed products, recognized within cost of goods sold. As of December 31, 2018, our contractual obligations to pay minimum guaranteed royalty and relating advertising commitments were as follows (in thousands): 2019 $ 121,843 2020 98,597 2021 78,061 2022 36,567 2023 30,396 Thereafter 119,655 Total $ 485,119 Royalty expense and license related advertising expense were $34.5 million and $4.1 million for the year ended December 31, 2018, respectively. The Company did not incur any royalty expense or license related expense for the year ended December 31, 2017. Letter of Credit The Company enters into letters of credit in the ordinary course of business including irrevocable standby and documentary trade letters of credit. The Company had $15.9 million and $130 thousand of outstanding letters of credit as of December 31, 2018 and December 31, 2017, respectively. Employment Agreements Certain of the Company’s officers are under employment agreements with minimum required payments. Future minimum payments under these employment agreements total $2.5 million in 2019 and $2.1 million in 2020. Litigation In the ordinary course of business, the Company is subject to periodic claims, investigations and lawsuits. Although the Company cannot predict with certainty the ultimate resolution of claims, investigations and lawsuits, asserted against the Company, it does not believe that any currently pending legal proceeding or proceedings to which it is a party could have a material adverse effect on its business, financial condition or results of operations.

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt
Debt	12. Debt The five-year payment schedule of the Company’s debt as of December 31, 2018 is as follows (in thousands): Original Deferred Issue Payment Due by Period Financing Discount Carrying 2019 2020 2021 2022 2023 Thereafter Total Costs, Net (Premium), Net Value Revolving facilities $ 315 $ — $ — $ — $ — $ — $ 315 $ — $ — $ 315 1L Term Loan 11,287 32,250 32,250 32,250 536,963 — 645,000 (29,438) 11,437 626,999 2L Term Loan — — — — — 671,513 671,513 (20,663) (71,265) 579,585 Convertible notes — — 17,979 — — 25,000 42,979 (1,355) (5,389) 36,235 Total $ 11,602 $ 32,250 $ 50,229 $ 32,250 $ 536,963 $ 696,513 $ 1,359,807 $ (51,456) $ (65,217) $ 1,243,134 New Term Loans On October 29, 2018 (the “ Closing Date ”), the Company and certain of its subsidiaries entered into a (i) first lien credit agreement with Ares Capital Corporation (“ Ares ”), as administrative agent, ACF FinCo I LP, as collateral agent, and certain other lenders party thereto (the “ First Lien Credit Agreement ”) and (ii) second lien credit agreement with U.S. Bank National Association, as administrative agent and collateral agent, and certain lenders party thereto (the “ Second Lien Credit Agreement ”, and together with the First Lien Credit Agreement, the “ Credit Agreements ”). The First Lien Credit Agreement provides for a senior secured asset based revolving credit facility with commitments in an aggregate principal amount of $150 million, which matures on April 29, 2023 (the “ New Revolving Facility ”) and a senior secured term loan credit facility in an aggregate principal amount of $645 million, which matures on October 29, 2023 (the “ First Lien Term Loan Facility ”, and together with the New Revolving Facility, are collectively referred to herein as “ First Lien Facilities ”). The Second Lien Credit Agreement provides for a second lien term loan facility in an aggregate principal amount of $668 million, which matures on October 29, 2024 (the “ Second Lien Term Loan Facility ”, and together with the First Lien Term Loan Facility are collectively referred to herein as the “ Term Loan Facilities ”). The obligations under the Credit Agreements are guaranteed by certain domestic subsidiaries of the Company and are secured by substantially all assets of the Company and its domestic subsidiaries. The First Lien Term Loan Facility will be subject to quarterly payments of principal as follows: (i) 0.25% of the initial principal amount for each of the fiscal quarters ending March 31, 2019 and June 30, 2019; (ii) 0.625% of the initial principal amount for each of the fiscal quarters ending September 30, 2019 and December 31, 2019; and (iii) 1.25% of the initial principal amount or each fiscal quarter thereafter, with the balance payable at maturity. There are no scheduled periodic payments under the Second Lien Term Loan Facility or the New Revolving Facility. The Term Facilities include mandatory prepayments customary for credit facilities of their nature. Subject to certain exceptions, prepayments of loans under the First Lien Term Loan Facility is subject to a prepayment premium of (i) 3.00% during the first year after the Closing Date, (ii) 2.00% during the second year after the Closing Date and (iii) 1.00% during the third year after the Closing Date, plus, if applicable, customary “breakage” costs with respect to LIBOR rate loans. Subject to certain exceptions, prepayments of loans under the Second Lien Term Loan Facility are subject to a prepayment premium of (i) with respect to the first $175 million of aggregate prepayments (the “ Initial Prepayment Amount ”), (a) 3.00% during the first year after the Closing Date, (b) 2.00% during the second year after the Closing Date and (c) 1.00% during the third year after the Closing Date and (ii) with respect to any amount in excess of the Initial Prepayment Amount, (a) subject to certain exceptions, a customary make-whole amount during the first or second year after the Closing Date, (b) 4.00% during the third year after the Closing Date, (c) 2.00% during the fourth year after the Closing Date and (d) 1.00% during the fifth year after the Closing Date. The annual interest rates for the Term Loan Facilities are as follows: · For the First Lien Term Facility: ABR (with a 2.50% floor) plus 5.00% for base rate loans or adjusted LIBOR (with a 1.50% floor) plus 6.00% for LIBOR Rate Loans, with two 0.25% step downs upon achieving and maintaining a first lien leverage ratio equal to or less than 2.75 to 1.00 and 2.25 to 1.00, respectively. · For the Second Lien Facility: ABR (with a 2.50% floor) plus 6.00% for base rate loans or adjusted LIBOR (with a floor of 1.50%) plus 7.00%, plus 2.75% payment-in-kind interest (“PIK”) from the Closing Date until December 31, 2019, and ABR (with a 2.50% floor) plus 7.00% for base rate loans or adjusted LIBOR (with a 1.50% floor) plus 8.00%, plus 1.25% PIK thereafter (subject to certain adjustments and compliance with certain leverage ratios). The Credit Agreements contain customary representations and warranties, events of default and covenants, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company and its subsidiaries to incur additional indebtedness, create or permit liens on assets, engage in mergers or consolidations, dispose of assets, make prepayments of certain indebtedness, pay certain dividends and other restricted payments, make investments, and engage in transactions with affiliates. The Term Loan Facilities require the Company to comply with financial maintenance covenants to be tested quarterly (beginning with the fiscal quarter ending March 31, 2019), consisting of a maximum net first lien leverage ratio, a maximum net total leverage ratio and a minimum fixed charge coverage ratio. As of December 31, 2018, the Company was in compliance with these covenants. The Company incurred debt issuance costs totaling $51.5 million related to the Term Loan Facilities. In accordance with ASU No. 2015-15, the debt issuance costs have been deferred and are presented as a contra-liability, offsetting the outstanding balance of the Term Loan, and are amortized using the effective interest method over the remaining life of the Term Loan Facilities. The Company used the proceeds from the Credit Agreements to consummate the GBG Acquisition and pay out existing debt. On April 17, 2019, the Company amended its Credit Facilities to, among other things, increase the amount of indebtedness under the First Lien Credit Agreement and amend the Company's consolidated fixed charge ratio covenant; see "Notes to Consolidated Financial Statements-Note 21-Subsequent Events" for additional information. New Revolving Facility In addition to the First Lien Term Loan, the First Lien Credit Agreement provides for a senior secured asset based revolving credit facility with commitments in an aggregate principal amount of $150 million, which matures on April 29, 2023 (the “ New Revolving Facility ”). The amount available to be drawn under the New Revolving Facility is based on the borrowing base values attributed to eligible inventory. There are no scheduled periodic payments under the New Revolving Facility. The obligations under the Credit Agreements, including the New Revolving Facility, are guaranteed by certain domestic subsidiaries of the Company (the “ Guarantors ”) and are secured by substantially all assets of the Company and its domestic subsidiaries. The availability under the Revolving Facility as of December 31, 2018 was $150.0 million. There were no borrowings under the Revolving Facility as of December 31, 2018. See “Note 12—Debt.” The annual interest rates for the Revolving Credit Facility is the lender’s alternate base rate (“ ABR ”) (with a 1.00% floor) plus 4.50% for base rate loans and adjusted LIBOR (with a 0.00% floor) plus 5.50% for LIBOR rate loans. The New Revolving Facility includes mandatory prepayments customary for credit facilities of this nature. Subject to certain exceptions, permanent reductions of the commitments under the New Revolving Facility are subject to a prepayment premium of (i) 3.00% during the first year after the GBG Closing Date, (ii) 2.00% during the second year after the GBG Closing Date and (iii) 1.00% during the third year after the GBG Closing Date, plus, if applicable, customary “breakage” costs with respect to LIBOR rate loans. The New Revolving Facility, contains customary representations and warranties, events of default and covenants, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company and its subsidiaries to incur additional indebtedness, create or permit liens on assets, engage in mergers or consolidations, dispose of assets, make prepayments of certain indebtedness, pay certain dividends and other restricted payments, make investments, and engage in transactions with affiliates. The Credit Agreements, inclusive of the provisions of the New Revolving Facility, require the Company to comply with financial maintenance covenants to be tested quarterly (beginning with the fiscal quarter ending March 31, 2019), consisting of a maximum net first lien leverage ratio, a maximum net total leverage ratio and a minimum fixed charge coverage ratio. As of December 31, 2018 the Company was in compliance with these covenants. The Company incurred debt issuance costs totaling $6.8 million related to the New Revolving Facility. The debt issuance costs have been deferred and are presented in Other Assets and are amortized using the effective interest method over the life of the New Revolving Facility. On April 17, 2019, the Company amended its New Revolving Facility to, among other things, increase the aggregate commitments; see “Notes to Consolidated Financial Statements—Note 21—Subsequent Events” for additional information. Prior Term Loan On January 28, 2016, we and certain of our subsidiaries entered into a Term Credit Agreement and accompanying security agreement with TCW Asset Management Company, as agent, and the lenders thereto (“ Prior Term Facility ”). The Prior Term Facility provided for a senior secured term loan with commitments in an aggregate principal amount of $50.0 million. The Prior Term Loan along with the Prior Revolving Facility (collectively, “Prior Credit Agreements” ) were guaranteed by all of our domestic subsidiaries and were secured by substantially all of our assets. Borrowings under the Prior Term Facility were subject to interest at a rate equal to either, at the Company’s option, an adjusted base rate or LIBOR, in each case plus an applicable margin and subject to a 0.50% floor for borrowings. The applicable margins for borrowing (which varied based the Company’s senior leverage ratio) ranged from 6.00% to 9.75% for base rate loans and 7.00% to 10.75% for LIBOR loans. On October 29, 2018, in connection with the GBG Acquisition and entry into the Credit Agreements, the outstanding principal balance of $46.4 million was repaid. In addition, the Company also incurred and paid $2.6 million of related fees relating to the retirement of the Prior Term Facility. Prior Revolving Credit Facility On January 28, 2016, we and certain of our subsidiaries entered into a secured asset-based revolving credit facility and accompanying security agreement with TCW Asset Management Company, as agent, and the lenders thereto ( “Prior Revolving Facility” ). The amount available to be drawn under the Prior Revolving Facility was based on borrowing base values attributed to eligible accounts receivable and eligible inventory. The Prior Credit Agreement was guaranteed by all of our domestic subsidiaries and was secured by substantially all of our assets. Borrowings under the Prior Revolving Facility were subject to interest at a rate equal to either, at the Company’s option, an adjusted base rate or LIBOR in each case plus an applicable margin. The applicable margin for borrowings under the Prior Revolving Facility was 0.50% for base rate loans and 1.75% for LIBOR loans. An unused commitment fee equal to 0.25% per annum of the average daily amount by which the total commitments under the Prior Revolving Facility exceeded the outstanding usage under the Prior Revolving Facility was payable monthly in arrears. On October 29, 2018, in connection with the GBG Acquisition and entry into the Credit Agreements, the outstanding balance of $23.1 million under the Prior Revolving Facility was repaid. In addition, the Company also incurred and paid approximately $80 thousand of related fees relating to the retirement of the Prior Revolving Facility. The Receivables Facility On October 29, 2018, the Company entered into the PNC Receivables Facility. Other subsidiaries of the Company may later enter into the PNC Receivables Facility. At the end of the initial three year term, the Purchasers may elect to renew their commitments under the RPA. Under the terms of the PSA, the Originators sell or contribute certain of their trade accounts receivable, related collections and security interests to Spring on a revolving basis. Under the terms of the RPA, Spring sells to the Purchasers an undivided ownership interest in the Receivables for up to $450 million in cash proceeds. The proceeds from the Purchasers’ investment are used to finance Spring’s purchase of the Receivables from the Originators. Spring may also use the proceeds from a subordinated loan made by the Originators to Spring to finance purchases of the Receivables from the Originators. Rather than remitting to the Purchasers the amount received upon payment of the Receivables, Spring reinvests such Receivables payments to purchase additional Receivables from the Originators through the term of the agreement, subject to the Originators generating sufficient eligible Receivables to sell to Spring in replacement of collected balances. Advances under the RPA will accrue interest based on a variable rate plus a margin. In connection with the PNC Receivables Facility, the Company incurred $2.4 million in deferred financing fees, including $1.6 million related to securitization closing fees, $470 thousand in legal Fees, and $350 thousand in other fees. These deferred financing fees are included in Other Assets on the Consolidated Balance Sheet as of December 31, 2018. On April 17, 2019, the Company amended its PNC Receivables Facility to, among other things, increase the aggregate commitments under the New Revolving Facility under the First Lien Credit Agreement; see "Notes to Consolidated Financial Statements-Note 21-Subsequent Events" to our consolidated financial statements in "Part II, Item 8" of this Annual Report for additional information. Convertible Notes 2024 Convertible Notes On October 29, 2018, the Company issued convertible promissory notes (the “2024 Convertible Notes” ) in an aggregate principal amount of $25.0 million to funds managed by GSO Capital Partners LP (“ GSO ”)and funds managed by Blackstone Tactical Opportunities Advisors L.L.C. (collectively, the “GSO/BTO Affiliates” ). The 2024 Convertible Notes are convertible at the holder’s option beginning on or after October 29, 2019 until the earlier of (i) repayment in full of all principal and interest outstanding under the Second Lien Credit Agreement and (ii) October 29, 2024 (such earlier date, the “2024 Convertible Note Maturity Date” ), into shares of the Company’s common stock at a conversion price of $8.00 per share, subject to customary adjustments as described in agreement. The 2024 Convertible Notes shall not initially bear interest. From and after April 29, 2019, the 2024 Convertible Notes shall bear interest at the rate of 12.0% per annum multiplied by the principal amount as of the previous interest payment date. From and after October 29, 2019, the 2024 Convertible Notes shall bear interest at the rate of 16.0% per annum multiplied by the principal amount as of the previous interest payment date. Interest payments are due each January 31, April 30, July 31, and October 31. To the extent that the Company is unable to pay cash interest on the 2024 Convertible Notes on each interest payment date because of restrictions in the Credit Agreements or other debt agreements of the Company, an amount equal to the unpaid interest then due shall be added to the principal amount of this Note (such additional amount, the “PIK Principal” ), without any action by the Company or a holder of a 2024 Convertible Note. The Company may, at any time and at its sole option, elect to prepay the entirety of aggregate then-outstanding PIK Principal, plus any accrued and unpaid interest on such PIK Principal, at any time (an “Optional PIK Prepayment” ). Optional PIK Prepayments may be paid in cash. From and after the GBG Closing Date until October 29, 2019, upon consummation of any sales of common stock by the Company for cash, the Company may, on at least ten (10) days’ prior written notice to the holder of a 2024 Convertible Note, prepay such 2024 Convertible Note in whole but not in part solely with the net proceeds of such sale of common stock in an amount equal to the greater of (i) the principal amount, together with accrued interest through and including the date of prepayment, or (ii) the value equal to (a) the number of shares of common stock that would be received upon conversion of the 2024 Convertible Note on the repayment date multiplied by the market value of the common stock as of such date, plus (b) any accrued but unpaid interest that has not been added to the principal amount of the 2024 Convertible Note on the date of such prepayment (such greater amount, the “Prepayment Amount” ). Also, the 2024 Convertible Notes shall be prepayable in whole but not in part at the Prepayment Amount: (i) from October 29, 2019 through October 29, 2021 only upon a change in control or a liquidation of the Company, or (ii) from October 29, 2021 until the Note Maturity Date, in each case on at least ten (10) day’s prior written notice to the holder. Also, on the GBG Closing Date, the Company and the Guarantors entered into a Subordinated Convertible Promissory Notes Guaranty Agreement pursuant to which those subsidiaries agreed to guarantee the obligations due under the 2024 Convertible Notes. The following table is a summary of the recorded value of the 2024 Convertible Notes as of December 31, 2018 (in thousands). December 31, 2018 2024 Convertible Notes - face value $ 25,000 Less: Original issue discount (4,522) Short-term convertible note recorded value on issue date 20,478 PIK interest issued — Accumulated accretion of original issue debt discount 534 2024 Convertible Notes value $ 21,012 RG Hudson Convertible Notes Modified Convertible Notes On January 18, 2016, in partial satisfaction of certain outstanding convertible notes, the Company issued an aggregate principal amount of approximately $16.5 million of modified convertible notes (the “ Modified Convertible Notes ”). The Modified Convertible Notes are structurally and contractually subordinated to our senior debt and will mature on July 28, 2021. The Modified Convertible Notes accrue interest quarterly on the outstanding principal amount at a rate of 6.5% per annum (which increased to 7% as of October 1, 2016, with respect to the Modified Convertible Notes issued to Fireman Capital CPF Hudson Co-Invest LP (“ Fireman ”) only), which is payable 50% in cash and 50% in additional paid-in-kind notes. However, the Company may elect to pay 100% of such interest in cash at its sole discretion. The Modified Convertible Notes are convertible at the option of the holders into either shares of the Company’s common stock, cash, or a combination thereof, at the Company’s election. If the Company elects to issue only shares of common stock upon conversion of the Modified Convertible Notes, each of the Modified Convertible Notes would be convertible, in whole but not in part into a number of shares of the Company’s common stock equal to the “conversion amount” divided by the “market price”. The “conversion amount” is (a) the product of (i) the “market price”, multiplied by (ii) the quotient of (A) the principal amount, divided by (B) the conversion price, minus (b) the aggregate optional prepayment amounts paid to the holder. The “market price” is the average of the closing prices for our common stock over the 20-trading-day period immediately preceding the notice of conversion. If the Company elects to pay cash with respect to a conversion of the Modified Convertible Notes, the amount of cash to be paid per share will be equal to the conversion amount. The Company will have the right to prepay all or any portion of the principal amount of the Modified Convertible Notes at any time so long as the Company makes a pro rata prepayment on all of the Modified Convertible Notes. The following table is a summary of the recorded value of the Modified Convertible Notes as of December 31, 2018 and December 31, 2017 (in thousands). The value of the Modified Convertible Notes reflects the present value of the contractual cash flows from the Modified Convertible Notes and resulted in an original issue discount of $4.7 million that was recorded on January 28, 2016, the issuance date. December 31, 2018 December 31, 2017 Modified convertible notes - face value $ 16,473 $ 16,473 Less: original issue discount (4,673) (4,673) Modified convertible notes recorded value on issue date 11,800 11,800 PIK interest issued 1,505 925 Accumulated accretion of original issue debt discount 1,918 1,141 Modified convertible notes value $ 15,223 $ 13,866 Short-Term Convertible Note In connection with the acquisition of SWIMS® on July 18, 2016, the Company entered into certain financing arrangements with Tengram Partners Fund II, L.P. (“ Tengram II ”), including a convertible note issued to Tengram II on July 18, 2016 (the “ SWIMS Convertible Note ”). The SWIMS Convertible Note accrued interest at a rate of 3.75% per annum, compounding on the first day of each month starting August 1, 2016, and was convertible, at Tengram II’s option or on the revised maturity date of January 18, 2018, which had an original maturity date of January 18, 2017, if not already repaid in cash on or prior to that date, into newly issued shares of our Series A-1 Preferred Stock at a conversion price of $3.00 per share. On January 18, 2018, the SWIMS Convertible Note matured and automatically converted into newly issued shares of the Company’s Series A-1 Preferred Stock, at a conversion price of $3.00 per share. The outstanding balance of the Convertible Note, together with any accrued and unpaid interest thereon, converted into 4,587,964 shares of Series A-1 Preferred Stock. Upon the issuance of such shares of Series A-1 Preferred Stock by the Company to Tengram II, the SWIMS Convertible Note was settled in its entirety. The Series A-1 Preferred Stock was convertible into shares of the Company’s common stock, par value $0.10 per share, at an initial price of $3.00 per share (subject to adjustment), was entitled to dividends at a rate of 10% per annum payable quarterly in arrears, was senior to the common stock upon liquidation and had voting rights on an as-converted basis alongside its common stock. On October 29, 2018, the 4,587,964 shares of the Company’s Series A-1 Preferred Stock converted into 4,951,177 newly issued shares of common stock in accordance with the terms of the Series A-1 Preferred Stock. For additional information, see “Note 14 – Equity.” SWIMS Overdraft Agreement In connection with the acquisition of SWIMS, SWIMS has maintained a preexisting Overdraft Facility Agreement between SWIMS and DNB, dated January 27, 2016 (the “ Overdraft Agreement ”). The Overdraft Agreement is an overdraft facility that provides SWIMS with access to up to NOK 6.0 million (approximately $0.7 million as of December 31, 2018) in total, divided between (a) an ordinary credit of NOK 3.5 million at an interest rate of 7.4% plus an additional quarterly fee of 0.4% on the outstanding principal in frame commissions and (b) an additional credit of NOK 2.5 million at an interest rate of 4.9% plus an additional quarterly fee of 0.5% on the outstanding principal in frame commissions. The Overdraft Agreement is secured with (a) first-priority liens on SWIMS’ (i) machinery and plant (up to NOK 10.0 million) and (ii) inventory (up to NOK 10.0 million) and (b) additional liens on SWIMS’ factoring in the amount of NOK 1.0 million (first lien), NOK 4.0 million (second lien), NOK 7.0 million (third lien) and NOK 2.5 million (fourth lien). For more information on the SWIMS Factoring Agreement, see “Note 4 – Factored Accounts and Receivables.” The Overdraft Agreement may be terminated by SWIMS upon fourteen days’ prior written notice for any reason and by DNB upon fourteen days’ prior written notice for just cause. DNB may also terminate the Overdraft Agreement without any prior written notice in the event of a material breach by SWIMS. As of December 31, 2018, there was $0.4 million outstanding on the facility governed by the Overdraft Agreement. Total Interest Expense The following table is a summary of total interest expense recognized (in thousands): Year ended December 31, 2018 2017 Contractual coupon interest $ 29,176 $ 7,716 Non-cash interest expense (including amortization of discounts and deferred financing costs) 9,151 1,128 Total interest expense $ 38,327 $ 8,844

Fair Value Measurement of Finan

Fair Value Measurement of Financial Instruments	12 Months Ended
	Dec. 31, 2018
Fair Value Measurement of Financial Instruments
Fair Value Measurement of Financial Instruments	13. Fair Value Measurement of Financial Instruments The Company’s assets measured at fair value on a nonrecurring basis include long-lived assets. The Company reviews the carrying amounts of such assets when events indicate that their carrying amounts may not be recoverable. Any resulting asset impairment would require that the asset be recorded at its fair value. The resulting fair value measurements of the assets are considered to be Level 3 inputs. Long-lived assets, primarily comprised of property and equipment, held and used with a carrying amount of zero and $0.2 million were fully impaired during the years ended December 31, 2018 and 2017, respectively. The carrying value of the Convertible Notes at December 31, 2018 was $36.2 million which approximates their fair value at December 31, 2018. The Company estimates the fair value of the Convertible Notes using commonly accepted valuation methodologies and unobservable inputs based on the low volume of similar market activity (Level 3 ). The Company carries the Convertible Notes at face value less unamortized debt discount and issuance costs on its condensed consolidated balance sheets. For further information on the Convertible Notes, see “Note 12—Debt".

Equity

Equity	12 Months Ended
	Dec. 31, 2018
Equity
Equity	14. Equity Stock Incentive Plans Amended and Restated 2004 Stock Incentive Plan In 2004, the Board of Directors adopted, and the Company’s shareholders approved the 2004 Stock Incentive Plan. In October 2011, the Board of Directors adopted, and the Company’s shareholders approved, the Amended and Restated 2004 Stock Incentive Plan (the “ Amended and Restated Plan ”) to update the 2004 Stock Incentive Plan with respect to certain provisions and changes in the tax code since its original adoption. 2016 Stock Incentive Plan On October 5, 2016, the Board of Directors adopted the 2016 Stock Incentive Compensation Plan (the “ 2016 Stock Incentive Plan ”) which was approved by the Company’s shareholders on November 7, 2016. Under the 2016 Stock Incentive Plan, 3,529,109 shares of common stock have been reserved for issuance in connection with grants of nonqualified stock options, incentive stock options, stock appreciation rights (“ SARs ”), restricted stock, restricted stock units (“ RSUs ”), performance-based compensation awards, other stock-based awards, dividend equivalents and cash-based awards. Effective October 29, 2018, the 2016 Stock Incentive Plan was amended to increase the reservation of the total shares available for issuance to 12,725,963 shares of common stock. The maximum number of shares with respect to which awards may be granted to any participant in any calendar year under the 2016 Stock Incentive Plan may not exceed 500,000 shares. Management Incentive Plan On October 29, 2018, the Company entered into a letter agreement with GSO (the “ MIP Letter ”). Under the MIP Letter, the Company agreed to create a new stock incentive compensation plan for the amount of 1,776,500 shares of common stock (the “ MIP Plan ”), which will be allocated by the Board in accordance with the Stockholder Agreement. The parties are in process of finalizing an amendment to the MIP Letter, pursuant to which the Company expects the shares to be allocated under its 2016 Stock Incentive Plan instead of a newly created plan and such grants would be subject to the same terms as the 2016 Stock Incentive Plan. Upon the forfeit of any awards granted at the direction of the Special Committee under the 2016 Stock Incentive Plan, the Company expects to issue the equivalent amount of shares of common stock to GSO for no additional consideration. 2016 Stock Incentive Plan In 2018, the Company granted RSUs, performance stock units (“ PSUs ”) and stock options to its officers, non-employee directors and employees pursuant to the 2016 Stock Incentive Plan or as “inducement grants,” as permitted under NASDAQ rules. The RSUs, PSUs and stock options represent the right to receive one share of common stock for each unit on the vesting date provided that the individual meets the applicable vesting criteria. The exercise price of stock options granted under the 2016 Stock Incentive Plan are determined by the Compensation and Stock Option Committee (the “ Compensation Committee ”) of the Board of Directors or by any other committee designated by the Board of Directors, but may not be less than the fair market value of the Company’s shares of common stock on the date the option is granted. In general, unvested stock options are forfeited when a participant terminates employment or service with the Company or its affiliates. Shares underlying awards that are forfeited, cancelled, terminated or expire unexercised, or settled in cash in lieu of issuance of shares, shall be available for issuance pursuant to future awards to the extent that such shares are forfeited, repurchased or not issued under any such award. Any shares tendered to pay the exercise price of an option or other purchase price of an award, or withholding tax obligations with respect to an award, shall be available for issuance pursuant to future awards. In addition, if any shares subject to an award are not delivered to a participant because (i) such shares are withheld to pay the exercise price or other purchase price of such award, or withholding tax obligations with respect to such award (or other award), or (ii) a payment upon exercise of an SAR is made in shares, the number of shares subject to the exercised or purchased portion of any such award that are not delivered to the participant shall be available for issuance pursuant to future awards. As of December 31, 2018, shares reserved for future issuance under the incentive plans include: (i) 444 shares of common stock issuable upon exercise of stock options granted under the Amendedand Restated Plan; (ii) 2,364,393 shares of common stock issuable upon vesting of RSUs, PSUs and exercise of stock options granted under the 2016 Stock Incentive Plan, (ii) 5,200,000 shares of common stock issuable upon vesting of RSUs and PSUs granted pursuant to “inducement grants” to certain of our officers, and 8,435,562 shares of common stock available for future grant under the 2016 Stock Incentive Plan. As of December 31, 2018, the Company no longer granted shares under the Amended and Restated Plan. Stock Options The following table summarizes stock option activity by incentive plan for the years ended December 31, 2018 and December 31, 2017 (in actual amounts): Amended and 2016 Stock Total Number Restated Plan Incentive Plan of Shares Outstanding at January 1, 2017 444 150,000 150,444 Granted — — — Exercised — — — Forfeited / Expired — (79,723) (79,723) Outstanding at December 31, 2017 444 70,277 70,721 Outstanding at January 1, 2018 444 70,277 70,721 Granted — 250,000 250,000 Exercised — — — Forfeited / Expired — — — Outstanding at December 31, 2018 444 320,277 320,721 The following table summarizes stock option activity for all incentive plans for the years ended December 31, 2018 and 2017 (in actual amounts): Weighted Weighted Average Aggregate Average Remaining Contractual Intrinsic Options Exercise Price Life (Years) Value Outstanding at January 1, 2018 70,721 $ 4.07 4.55 $ — Granted 250,000 4.22 2.81 Exercised — — Expired — — Forfeited — — Outstanding at December 31, 2018 320,721 $ 4.19 8.45 $ — Exercisable at December 31, 2018 70,721 $ 4.07 3.55 $ — There were no options exercised during the years ended December 31, 2018 and 2017, respectively. The following table summarizes exercise prices for options exercisable as of December 31, 2018 (in actual amounts): Options Exercisable Exercise Price Number of Shares Weighted-Average $ 4.02 70,277 5.4 $ 11.40 444 6.0 70,721 For all stock compensation awards that contain graded vesting with time‑based service conditions, the Company has elected to apply a straight‑line recognition method to account for these awards. Stock-based compensation expense related to stock options was immaterial during the years ended December 31, 2018 and 2017, respectively. As of December 31, 2018, there was $0.7 million of unrecognized compensation cost related to unvested stock options. The stock option awards were measured at fair value on the grant date using the Black-Scholes option valuation model. Stock options granted to non-employees are revalued at each reporting period. The Company recognizes forfeitures as they occur. Shares of common stock will be issued when the options are exercised. The following table summarizes the assumptions used to estimate the fair value of stock options granted during the years ending December 31, 2018 and December 31, 2017: 2018 2017 Stock Price on Grant Date $ 4.22 $ 1.85 Expected Dividend Rate 0.00 % 0.00 % Expected Volatility 60.00 % 60.00 % Exercise Price $ 4.22 $ 4.02 Risk Free Rate 3.08 % 1.75 % Average expected stock option term (in years) 8.45 5.00 Restricted Stock Units The following table summarizes RSU activity for the year ended December 31, 2018 (in actual amounts): Restricted Stock Units Number Of Weighted Average Grant Outstanding at January 1, 2017 800,843 $ 4.65 Granted 510,000 2.24 Vested 350,141 4.54 Forfeited 215,000 2.46 Outstanding at December 31, 2017 745,702 3.68 Outstanding at January 1, 2018 745,702 $ 3.68 Granted 6,473,484 3.75 Vested 1,278,626 2.50 Forfeited 120,000 1.42 Outstanding at December 31, 2018 5,820,560 $ 4.06 A total of $3.8 million and $2.3 million of stock-based compensation expense was recognized related to RSUs during the years ended December 31, 2018 and 2017, respectively. As of December 31, 2018, there was $21.8 million of total unrecognized compensation cost related to unvested RSUs. The unrecognized compensation cost is expected to be recognized over a weighted‑average of 2.8 years. Performance Share Units In Fiscal 2018, the Company granted 1,405,556 PSUs, which vest over three years if the performance targets set by the Compensation Committee are met. For certain PSUs, unvested PSUs in any completed year will be eligible for vesting in subsequent years if the subsequent year performance target is exceeded and the excess is sufficient to make up for the prior year shortfall. 308,122 PSUs were forfeited during the year ended December 31, 2018 and 1,405,556 unvested PSUs are outstanding as of December 31, 2018. 150,000 PSUs vested during the year ended December 31, 2018 and $633 thousand of stock compensation expense was recognized in connection with the vested shares during the year ended December 31, 2018. No PSUs were granted or vested during the year ended December 31, 2017. Series A Preferred Stock In connection with the acquisition of all of the outstanding equity interests of RG Parent LLC and its subsidiaries on January 28, 2016 (the “ RG Merger ”), the Company issued and sold to TCP Denim, LLC an aggregate of 50,000 shares of the Company’s Series A Convertible Preferred Stock, par value $0.10 per share (the “ Series A Preferred Stock ”) for an aggregate purchase price of $50.0 million in cash. The proceeds from the sale of Series A Preferred Stock were used to consummate the RG Merger in 2016. Under the certificate of designation for the Series A Preferred Stock, each share of Series A Preferred Stock entitled the holder to receive cumulative dividends when, as and if declared by the Board of Directors or a duly authorized committee thereof, payable quarterly, at an annual rate of 10%, plus accumulated and accrued dividends thereon through such date. Additionally, if the Board of Directors declared or paid a dividend on the common stock, then each holder of the Series A Preferred Stock was entitled to receive a cash dividend on an as-converted basis. Each holder of the Series A Preferred Stock was entitled to vote on an as-converted basis and together with the holders of common stock as a single class, subject to certain limitations. For so long as a to-be-determined percentage of the shares of the Series A Preferred Stock remained outstanding, the holders of the Series A Preferred Stock, exclusively and as a separate class, were entitled to elect three members of the Board of Directors, each of whom could only have been removed without cause by the affirmative vote of the holders of a majority of the shares of Series A Preferred Stock. The holders of the Series A Preferred Stock had separate class voting rights with respects to certain matters affecting their rights. Upon any liquidation event, holders of the Series A Preferred Stock were entitled to receive the greater of the liquidation preference and the amount that would be payable to the holders of the Series A Preferred Stock had such holders converted their shares of Series A Preferred Stock into shares of common stock immediately prior to such liquidation event. Each share of the Series A Preferred Stock was convertible at the option of the holder at any time and without the payment of additional consideration by the holder at an initial conversion price of $11.16. On October 29, 2018, the 50,000 shares of the Company’s Series A Preferred Stock converted into 5,852,142 shares of common stock in accordance with the terms of the Series A Preferred Stock. The conversion was for no consideration. Series A-1 Preferred Stock On January 18, 2018, the SWIMS Convertible Note originally issued on July 18, 2016 to Tengram II, as amended, with a principal amount of $13.0 million, matured and automatically converted into newly issued shares of 10% Series A-1 Preferred Stock, $0.10 par value per share, at a conversion price of $3.00 per share. The outstanding balance of the SWIMS Convertible Note, together with any accrued and unpaid interest thereon, converted into 4,587,964 shares of Series A-1 Preferred Stock. The Series A-1 Preferred Stock was convertible on a one-to-one basis into shares of common stock. Each share of Series A-1 Preferred Stock entitled the holder to receive cumulative dividends when, as and if declared by the Board of Directors or a duly authorized committee thereof, payable quarterly, at an annual rate of 10%, plus accumulated and accrued dividends thereon through such date. Additionally, if the Board of Directors declared or paid a dividend on the common stock, then each holder of the Series A-1 Preferred Stock was entitled to receive a cash dividend on an as-converted basis. Each holder of the Series A-1 Preferred Stock was entitled to vote on an as-converted basis and together with the holders of common stock as a single class, subject to certain limitations. The Series A-1 Preferred Stock was senior to the common stock upon a liquidation. On October 29, 2018, the 4,587,964 shares of the Company's Series A-1 Preferred Stock converted into 4,951,177 shares of common stock in accordance with the terms of the Series A-1 Preferred Stock. The conversion was for no consideration. Warrants The Company issued warrants in conjunction with the acquisition and financing of SWIMS that are currently exercisable and have been classified as equity. In connection with the SWIMS acquisition, the Company issued to Tengram II a warrant for the purchase of 500,000 shares of common stock at an exercise price of $3.00 per share and has an estimated fair value of $465 thousand (the “ SWIMS Warrant ”). The Company determined the fair value of the warrant at the date of grant using the Black-Scholes option pricing model based on the market value of the underlying common stock, an exercise price of $3.00 per share, an expected life (term) of 5 years, a volatility rate of 50%, based upon the expected volatility in market traded stock over the same period as the remaining term of the warrants, zero dividends, and a risk free interest rate of 1.14%. In addition, a 20% discount for lack of marketability was applied based upon the Rule 144 six-month restriction period. The SWIMS Warrant expires on July 18, 2021. Also in connection with the SWIMS acquisition, the Company issued to the shareholders of SWIMS (the “SWIMS Sellers”) warrants for the purchase of 150,000 shares of common stock with an exercise price of $5.47 per share that have an estimated fair value of $45 thousand. The Company determined the fair value of the warrants at the date of grant using the Black-Scholes option pricing model based on the market value of the underlying common stock, an exercise price of $5.47 per share, an expected life (term) of 3 years, a volatility rate of 45%, based upon the expected volatility in market traded stock over the same period as the remaining term of the warrants, zero dividends, and a risk free interest rate of 0.85%. In addition, a 10% discount for lack of marketability was applied based upon the Rule 144 six-month restriction period. The SWIMS Sellers warrants expire on July 18, 2019. The Private Placement On October 29, 2018, the Company completed a private placement of 10 million shares of common stock to certain members of management, affiliates of Ares and the GSO/BTO Affiliates at $8.00 per share for total consideration of $80.0 million. Additionally, in connection with an in consideration of the GSO/BTO Affiliates entering into the Second Lien Term Facility and providing loans to the Company thereunder, the Company issued to the GSO/BTO Affiliates 23,094,501 shares of common stock for no additional consideration.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2018
Segment Information
Segment Information	15. Segment Information Segment Reporting Prior to the GBG Acquisition, the Company organized its business into the following three reportable segments: Wholesale, Consumer Direct and Corporate and other. Upon completing the GBG Acquisition, it resegmented its reportable segments to reflect the organizational structure of the Company, including the operations of the GBG Business. Accordingly, it realigned its business into the following three reportable segments: Kids, Accessories, and Men’s & Women’s Apparel. This new segment structure is consistent with how the Company establishes our overall business strategy, allocate resources, and assess performance. All prior period segment information has been recast to reflect the realignment of our segment reporting structure on a comparable basis. Year ended December 31, 2018 2017 (in thousands) Net sales: Kids $ 216,298 $ — Accessories 97,299 — Men's & Women's Apparel 283,005 164,053 $ 596,602 $ 164,053 Gross profit: Kids $ 33,530 $ — Accessories 10,246 — Men's & Women's Apparel 116,959 71,750 $ 160,735 $ 71,750 Selling, general and administrative Kids $ 20,482 $ — Accessories 10,954 — Men's & Women's Apparel 113,700 62,030 $ 145,136 $ 62,030 Depreciation & amortization Kids $ 5,018 $ — Accessories 5,772 — Men's & Women's Apparel 8,561 6,061 $ 19,351 $ 6,061 Other operating expense Kids $ 32,903 $ — Accessories 37,722 — Men's & Women's Apparel 17,182 2,583 $ 87,807 $ 2,583 Operating income (loss) Kids $ (24,872) $ — Accessories (44,202) — Men's & Women's Apparel (22,485) 1,076 $ (91,559) $ 1,076 Operations by Geographic Area Currently, we do not have any material reportable operations outside of the United States.

Disaggregation of Revenue

Disaggregation of Revenue	12 Months Ended
	Dec. 31, 2018
Disaggregation of Revenue
Disaggregation of Revenue	16. Disaggregation of Revenue In accordance with ASC 606, the Company elected to disclose its Net Sales by segment. Each segment presents its own characteristics with respect to the timing of revenue recognition and type of customer. As disclosed above, prior to the GBG Acquisition, the Company organized its business into the following three reportable segments: (1) Wholesale, (2) Consumer Direct and (3) Corporate and other. Following the GBG Acquisition, the Company implemented significant organizational changes that have impacted the manner in which it manages the Company, and realigned its business into the following three reportable segments: (1) Kids, (2) Accessories, and (3) Men’s & Women’s Apparel, to better reflect its internal organization, management and oversight structure. The following tables disaggregate our operating segment Net Sales by product category and sales channel, which the Company believes provides a meaningful depiction of how the nature, timing and uncertainty of Net Sales are affected by economic factors: Year Ended December 31, 2018 Year ended December 31, 2017 Wholesale & Wholesale & Licensing Retail Total Licensing Retail Total Kids $ $ — $ 216,298 $ — $ — $ — Accessories — 97,299 — — — Men’s & Women’s Apparel 107,964 283,005 121,958 42,095 164,053 $ $ 107,964 $ 596,602 $ 121,958 $ 42,095 $ 164,053 International sales were $29.8 million and $15.7 million for the years ended December 31, 2018 and 2017, respectively.

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2018
Loss Per Share
Loss per Share	17. Loss Per Share Loss per share is computed using weighted average common shares and dilutive common equivalent shares outstanding. Potentially dilutive securities consist of outstanding stock options, unvested RSUs, unvested PSUs, warrants, convertible Series A Preferred Stock and shares issuable upon the assumed conversion of the 2024 Convertible Notes, the Modified Convertible Notes and the SWIMS Convertible Note , as applicable. A reconciliation of the numerator and denominator of basic and diluted loss per share is as follows (in thousands, except per share data). December 31 2018 2017 Basic loss per share computation Numerator: Loss from continuing operations $ (123,766) $ (2,458) Less: preferred dividends (6,144) (5,480) Loss from continuing operations attributable to common stockholders (129,910) (7,938) Denominator: Weighted average common shares outstanding 21,569 13,313 Loss per common share - basic Loss from continuing operations $ (6.02) $ Loss per common share - basic $ (6.02) $ (0.60) Diluted loss per share computation Numerator: Loss from continuing operations $ (123,766) $ (2,458) Less: preferred dividends (6,144) (5,480) Loss from continuing operations attributable to common stockholders (129,910) (7,938) Denominator: Weighted average common shares outstanding 21,569 13,313 Effect of dilutive securities: Options, RSUs, PSUs, warrants, Series A, convertible notes — — Dilutive common shares 21,569 13,313 Loss per common share - diluted Loss from continuing operations $ (6.02) $ Loss per common share - diluted $ (6.02) $ (0.60) The following potential shares of common stock were excluded from diluted EPS as the Company had a net loss as of the years ended (in thousands): December 31, 2018 December 31, 2017 Outstanding stock options 321 71 Unvested RSUs 5,821 746 Unvested PSUs 1,406 458 Outstanding warrants 650 650 Convertible Series A preferred stock — 4,480 Convertible Series A-1 preferred stock — — Modified Convertible Notes 1,278 1,247 SWIMS Convertible Note — 4,565 2024 Convertible Notes 3,125 — Loss per Share under Two−Class Method The Series A Preferred Stock had the non-forfeitable right to participate on an as converted basis at the conversion rate then in effect in any common stock dividends declared and as such, was considered a participating security. The Series A Preferred Stock was included in the computation of basic and diluted loss per share for the year ended December 31, 2017 pursuant to the two-class method. Holders of the Series A Preferred Stock did not participate in undistributed net losses because they were not contractually obligated to do so. The computation of diluted loss per share attributable to common stockholders reflects the potential dilution that could occur if securities or other contracts to issue shares of common stock that are dilutive were exercised or converted into shares of common stock (or resulted in the issuance of shares of common stock) and would then share in the Company’s earnings. During the periods in which the Company record a loss from continuing operations attributable to common stockholders, securities would not be dilutive to net loss per share and conversion into shares of common stock is assumed not to occur. The following table provides a reconciliation of net loss to preferred shareholders and common stockholders for purposes of computing net loss per share for the years ended December 31, 2018 and 2017 (in thousands, except per share data): December 31, 2018 2017 Net loss $ (123,766) $ (2,458) Less: preferred dividends (6,144) (5,480) Net loss attributable to common stockholders $ (129,910) $ (7,938) Denominator: Weighted average common shares outstanding 21,569 13,313 Loss per common share - basic and diluted under two-class method $ (6.02) $ (0.60)

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes
Income Taxes	18. Income Taxes The Company accounts for income taxes under the asset and liability method; under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax reporting bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when these differences reverse. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. For financial reporting purposes, loss before income taxes, includes the following components (in thousands): For the year ended December 31, 2018 December 31, 2017 Domestic $ (130,609) $ (7,352) Foreign 916 (437) Loss before income taxes $ (129,693) $ (7,789) Benefit for Income Taxes The benefit for income taxes is as follows (in thousands): For the year ended December 31, 2018 December 31, 2017 Current: Federal $ — $ (1,056) State 712 229 Foreign — 43 712 (784) Deferred: Federal (3,415) (4,425) State (1,100) (178) Foreign (2,124) 56 (6,639) (4,547) Total $ (5,927) $ (5,331) Income tax benefit for the years ended December 31, 2018 and 2017, respectively, differ from the amounts computed by applying the U.S. statutory income tax rate of 21% (in 2018) and 34% (in 2017) to pretax loss as follows (in thousands): Year ended December 31, 2018 2017 U.S. Federal (benefit) provision At statutory rate $ (27,235) $ (2,649) State taxes (358) 34 Federal Valuation allowance 23,792 (8,431) Foreign tax adjustments (2,332) 81 Disallowed interest expense — 190 Federal tax rate change — 7,338 Permanent Adjustments 236 — Effect of uncertain tax positions (30) 10 Book income from pre-transaction period — (1,932) Other — 28 Total $ (5,927) $ (5,331) The effective tax rate from continuing operations was a benefit of 4.6% of pre tax loss for the year ended December 31, 2018 compared to a benefit of 68.4% for the year ended December 31, 2017. The difference in the effective tax rate for the year ended December 31, 2018, as compared to the year ended December 31, 2017, was primarily due to the impact of the Tax Act recorded in 2017 as discussed below and valuation allowance movement in 2018. US Tax Reform On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “ Tax Act ”). The Tax Act made broad and complex changes to the U.S. tax code that affected the Company’s financial results for the year ended December 31, 2017, including, but not limited to: (1) requiring a one-time transition tax (payable over eight years) on certain un-repatriated earnings of foreign subsidiaries; (2) a future reduction of the U.S. federal corporate tax rate from 34% to 21% effective January 1, 2018, that reduced the current value of the Company’s deferred tax assets and liabilities; (3) bonus depreciation that allows for full expensing of qualified property placed in service after September 27, 2017. In addition, the Tax Act established new tax laws that may affect the Company’s financial results for the years ending after December 31, 2017, including, but not limited to: (1) a reduction of the U.S. federal income tax rate from 34% to 21%; (2) limitation of the deduction for interest expense; (3) a general elimination of U.S. federal income taxes on dividends from foreign subsidiaries; (4) a new provision designed to tax global intangible low-taxed income; (5) limitations on the deductibility of certain executive compensation; and (6) limitations on the use of Foreign Income Tax Credit to reduce the U.S. income tax liability. Pursuant to the Staff Accounting Bulletin published by the Securities and Exchange Commission on December 22, 2017, addressing the challenges in accounting for the effects of the Tax Act in the period of enactment, companies reported provisional amounts for those specific income tax effects of the Tax Act for which the accounting was incomplete, but a reasonable estimate could be determined. Those provisional amounts were subject to adjustment during a measurement period of up to one year from the enactment date (measurement-period adjustment). Pursuant to this guidance, the estimated impact of the Tax Act was based on a preliminary review of the new tax law and projected future financial results and was subject to revision based upon further analysis and interpretation of the Tax Act and to the extent that actual results differed from projections available at that time. In 2018, the Company completed its accounting with respect to the Tax Act and did not make any measurement period adjustments to the initial tax benefit of $6.3 million recorded in 2017. · Reduction of U.S. Federal Corporate Tax Rate: The Tax Act reduced the corporate tax rate to 21%, effective January 1, 2018. Consequently, we recorded a decrease related to deferred tax assets and liabilities with a corresponding net adjustment to deferred income tax benefit for the year ended December 31, 2017. We did not make any measurement-period adjustments related to this item in 2018. Our accounting for this element of the Tax Act is complete. · Valuation Allowances: The Company must assess whether its valuation allowance analyses are affected by the various aspects of the Tax Act. We did not make any measurement-period adjustments related to this item in 2018. Our accounting for this element of the Tax Act is complete. · Global Intangible Low-Taxed Income (GILTI) Policy Election: The FASB allows companies to adopt an accounting policy to either recognize deferred tax for GILTI or treat such tax cost as a current period expense when incurred. The Company has adopted an accounting policy to treat taxes due on GILTI as a current period expense. GILTI is a part of the enacted tax reform where U.S. Shareholders of controlled foreign corporations (“CFCs”) are required to include in income the aggregate amount of “tested income” generated by its CFCs. In addition, a deduction of 50% of GILTI inclusion is available to offset taxable income after the use of net operating losses. The Company has CFCs operating in foreign jurisdictions that would be impacted by this aspect of tax reform. For the year ended December 31, 2018, the Company’s CFCs had a net “tested income” of approximately $0.8 million. As a result, there is $0.8 million GILTI inclusion in the current year. As a part of the enacted tax reform, changes were made to the current deductibility of business interest expense. Under the Tax Act, generally interest expense is limited to 30% of adjusted taxable income (taxable income adjusted for depreciation, amortization, or interest). Starting in 2022, depreciation and amortization are no longer removed to arrive at adjusted taxable income, which will serve to lower the allowable deduction of interest expense. An analysis was performed and it is estimated that this limitation will continue in future years, which may limit the Company’s ability to utilize the carried forward disallowed interest deductions. As such, a valuation allowance was recorded against the carryforward amount. Deferred Tax Assets and Liabilities Deferred income taxes represent the future tax benefits and expense associated with the utilization or reversal of loss and credit carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets for federal and state income taxes are as follows (in thousands): As of December 31, 2018 2017 Deferred tax assets: Federal and state NOL carryforward $ 31,157 $ 9,889 Fixed assets 3 462 Accruals 27,946 682 Stock-based compensation 1,639 454 Inventory 667 835 Other intangibles 18,566 9,151 Allowance for customer credits and doubtful accounts — 843 Deferred rent — 985 Contribution carryforward 103 — Business interest limitation 9,844 — Deferred state income tax 309 231 Other 1,032 186 Total gross deferred tax assets 91,266 23,718 Less: valuation allowance (77,864) (19,975) Total deferred tax assets $ 13,402 $ 3,743 Deferred tax liabilities: Indefinite lived intangibles $ (10,696) $ (9,382) Fixed Assets (2,586) — Prepaids (120) (90) Debt discount — (921) Total gross deferred tax liabilities (13,402) (10,393) Net deferred tax liabilities $ — $ (6,650) Realization of our deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. Because of our lack of U.S. earnings history, the net U.S. deferred tax assets have been fully offset by a valuation allowance. In 2018, this included a full valuation allowance against its indefinite lived assets, including non-expiring net operating losses and disallowed interest expense, which are in excess of its indefinite lived intangibles. The valuation allowance increased by $57.9 million during the year ended December 31, 2018. In general, it is the practice and intention of the Company to reinvest the earnings of its non-U.S. subsidiaries in those operations. Historically, the Company has not made a provision for U.S. income tax with respect to accumulated earnings of foreign subsidiaries where the foreign investment of such earnings is essentially permanent in duration. Generally, such amounts would become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. The Company has not provided U.S. taxes on unremitted earnings of its foreign subsidiaries as it has an accumulated deficit in earnings and profits and thus, no earnings to remit. Net Operating Loss and Tax Credit Carryforwards As of December 31, 2018, the Company had a net operating loss carryforward for federal income tax purposes of approximately $102.8 million, portions of which will begin to expire in 2018. Federal NOLs generated in 2018 and beyond have no expiration and can be carried forward indefinitely. We had a total state net operating loss carryforward of approximately $90.4 million, which will begin to expire in 2019. We had a foreign net operating loss carryforward of $13.7 million that has no expiration date. Utilization of some of the federal and state net operating loss and credit carryforwards are subject to annual limitations due to the “change in ownership” provisions of the Internal Revenue Code of 1986 and similar state provisions. The annual limitations may result in the expiration of net operating losses and credits before utilization. The net operating losses are presented net of any expirations associated with such limitations. Unrecognized Tax Benefits The Company utilizes a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. The Company’s unrecognized tax benefits were acquired as part of purchase accounting in Fiscal 2016. The Company’s policy is to include interest and penalties related to unrecognized tax benefits, if any, within the income tax benefit in the consolidated statements of operations and comprehensive income (loss). If the Company is eventually able to recognize the uncertain positions, the Company’s effective tax rate would be reduced. The Company currently has a full valuation allowance against the net deferred tax assets which would impact the timing of the effective tax rate benefit should any of these uncertain tax positions be favorably settled in the future. Any adjustments to the uncertain tax positions would result in an adjustment to the net operating income (loss) or tax credit carry forwards rather than resulting in a cash outlay. At December 31, 2018 and 2017, the Company had $0.1 million and $0.1 million of certain unrecognized tax benefits, included as a component of accounts payable and accrued expenses within the accompanying consolidated balance sheets, respectively. The Company has the following activity relating to unrecognized tax benefits (in thousands): Year Ended December 31, 2018 2017 Beginning balance $ 119 $ 81 Gross increase - tax positions in prior periods — 38 Lapse in statutes of limitations (30) — Ending balance $ 89 $ 119 Although it is reasonably possible that certain unrecognized tax benefits may increase or decrease within the next twelve months due to tax examination changes, settlement activities, expirations of statute of limitations, or the impact on recognition and measurement considerations related to the results of published tax cases or other similar activities, we do not anticipate any significant changes to unrecognized tax benefits over the next 12 months. The Company files income tax returns in the U.S. federal jurisdiction and in various state and local jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examination by taxing authorities for years prior to 2014. The Company is currently under examination by the Internal Revenue Service for the pre-acquisition years ended November 30, 2015 and December 31, 2015. The Company believes that any adjustments expected to result from this examination have been adequately reserved for.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions
Related Party Transactions	19. Related Party Transactions Jason Rabin On October 29, 2018, the Company entered into an employment agreement with Jason Rabin in connection with the employment of Mr. Rabin as its Chief Executive Officer. The employment agreement provides that Mr. Rabin is employed for a term beginning on October 29, 2018 and ending December 31, 2021, subject to earlier termination or extension as specified in the employment agreement. The employment agreement provides for Mr. Rabin to receive an annual base salary of not less than $1,275,000 per year (to be prorated for any partial calendar year of employment) and for certain other benefits consistent with those provided to other of our senior executives. The employment agreement provides that for each year during his term (prorated for 2018), Mr. Rabin is entitled to the use of a Company car, a clothing allowance, reimbursement for fees and expenses for tax and financial planning, legal and accounting, and reimbursement of membership fees and dues up to $200,000. In addition, Mr. Rabin is eligible to receive an annual cash bonus of up to 300% of his annual base salary, subject to the achievement of the applicable performance goals (the “ EBITDA Bonus ”), and an annual cash bonus up to $4,000,000 in the aggregate over its term, subject to the achievement of the applicable performance goals (the “ Leverage-Based Bonus ”). The employment agreement also references that Mr. Rabin purchased from us 3,125,000 shares of our common stock at a price of $8 per share. Mr. Rabin’s employment agreement provides for an inducement grant of 4,100,000 RSUs with respect to our common stock and 500,000 PSUs with respect to our common stock, subject to vesting requirements. This inducement grant was made as an inducement award and was not granted under our 2016 Stock Incentive Compensation Plan, but is subject to the same terms and conditions as provided in the 2016 Stock Incentive Compensation Plan. In addition, Mr. Rabin is entitled to accelerated vesting or forfeiture of his RSUs and PSUs as well as separation payments upon the occurrence of certain events, as set forth in his employment agreement. Arthur Rabin Arthur Rabin, the father of Jason Rabin, our Chief Executive Officer and member of our Board of Directors, is our President of Sourcing. Mr. Rabin has been employed by us since the GBG Acquisition and prior to that, he was employed by GBG. Mr. Rabin is employed by us as an at-will employee at an annual salary of $1,000,000 and is entitled to participate in all company sponsored employee benefits consistent with other senior executives with similar titles. Anurup S. Pruthi On October 30, 2018, we entered into an employment agreement with Anurup S. Pruthi in connection with our employment of Mr. Pruthi as our Chief Financial Officer. The employment agreement provides that Mr. Pruthi will be employed for a term beginning on November 5, 2018 and ending December 31, 2021, subject to earlier termination as specified in the employment agreement. If Mr. Pruthi remains an employee of us following expiration of the term and his employment agreement is not extended, Mr. Pruthi will be an employee “at will.” The employment agreement provides for Mr. Pruthi to receive an annual base salary of not less than $650,000 per year (to be prorated for any partial calendar year of employment) and for certain other benefits consistent with those provided to other of our senior executives. The employment agreement provides for a cash signing bonus of $250,000 to be paid promptly following November 5, 2018, travel allowance of $1,500 per month during the term of the agreement, and legal fees in connection with the negotiation and drafting of his employment agreement up to $15,000. In addition, Mr. Pruthi is eligible to receive an annual cash bonus of up to 100% of his annual base salary, subject to the achievement of the applicable performance goals; provided that for calendar years 2018 and 2019, his will be equal to at least 100% of Mr. Pruthi’s base salary. Mr. Pruthi’s employment agreement provides for an inducement grant of 600,000 RSUs with respect to our common stock, subject to vesting requirements. His inducement grant was made as an inducement award and was not granted under our 2016 Stock Incentive Compensation Plan, but is subject to the same terms and conditions as provided in the 2016 Stock Incentive Compensation Plan. In addition, Mr. Pruthi is entitled to accelerated vesting or forfeiture of his RSUs as well as separation payments upon the occurrence of certain events, as set forth in his employment agreement. Andrew Tarshis On October 29, 2018, the Company entered into a consulting agreement with Andrew Tarshis, former director of the Company, and an employee of Tengram Capital Partners (as defined below), pursuant to which Mr. Tarshis is entitled to receive $25,000 a month for a fixed term of 36 months. This consulting agreement may be terminated upon 30 days written notice by either party. Agreements Related to the RG Merger RG Stock Purchase Agreement On January 28, 2016, we entered into a Stock Purchase Agreement with TCP Denim, LLC, one of our significant stockholders, pursuant to which we issued and sold to TCP Denim, LLC an aggregate of 50,000 shares of Series A Preferred Stock, for an aggregate purchase price of $50 million in cash (the “ RG Stock Purchase Agreement ”). Under the form of certificate of designation for the Series A Preferred Stock, each share of Series A Preferred Stock entitled the holder thereof to receive cumulative cash dividends, payable quarterly, at an annual rate of 10%, plus accumulated and accrued dividends thereon through such date. Additionally, if our Board of Directors declared or paid a dividend on the common stock, then each holder of the Series A Preferred Stock would have been entitled to receive a cash dividend on an as-converted basis. Each holder of the Series A Preferred Stock was entitled to vote on an as-converted basis and together with the holders of common stock as a single class, subject to certain limitations. For so long as a to-be-determined percentage of the shares of the Series A Preferred Stock were outstanding, the holders of the Series A Preferred Stock, exclusively and as a separate class, were entitled to elect three members of the board of directors, each of whom may only be removed without cause by the affirmative vote of the holders of a majority of the shares of Series A Preferred Stock. The holders of the Series A Preferred Stock had separate class voting rights with respects to certain matters affecting their rights. Upon any liquidation event, holders of the Series A Preferred Stock were entitled to receive the greater of the liquidation preference on the date of determination and the amount that would be payable to the holders of the Series A Preferred Stock had such holders converted their shares of Series A Preferred Stock into shares of common stock immediately prior to such liquidation event. Each share of the Series A Preferred Stock was convertible, at the option of the holder thereof, at any time and without the payment of additional consideration by the holder, at an initial conversion price of $11.16 (after taking into account the Reverse Stock Split (as defined below)). All of the outstanding Series A Preferred Stock was converted into shares of our common stock in accordance with its terms on October 29, 2018. See “ Agreements Related to the GBG Acquisition—Conversion ” below. Registration Rights Agreement On January 28, 2016, we entered into a registration rights agreement (the “ Tengram Registration Rights Agreement ”) with TCP Denim, LLC and certain of its affiliates, who are one of our significant stockholders, the noteholders party to the Rollover Agreement and Michael Buckley, our former Chief Executive Officer. Pursuant to the Tengram Registration Rights Agreement, and subject to certain limitations described therein, we are required to provide certain demand and piggyback registration rights to the parties to the Tengram Registration Rights Agreement. In particular, if demanded, we are required to prepare and file a registration statement on Form S-1 or S-3 (or any similar form or successor thereto) for the registration under the Securities Act of shares of our common stock issued to the parties to the Tengram Registration Rights Agreement. The Tengram Registration Rights Agreement was amended on October 29, 2018, in connection with the consummation of the GBG Acquisition. Employment Agreements with Officers The Company entered into employment agreements with Mr. Buckley, our former Chief Executive Officer and Bob Ross, our former Chief Financial Officer. On October 29, 2018, the Company entered into a separation and release agreement with Mr. Buckley, pursuant to which Mr. Buckley resigned as a director on the Board of Directors and from all positions with us and any of our subsidiaries. Pursuant to this separation agreement, Mr. Buckley received (i) continuation of his base salary due under his employment agreement through December 31, 2018, (ii) a lump sum cash payment of $200,000 to be paid as soon as practicable following October 29, 2018, (iii) full payment towards the cost of COBRA continuation coverage for himself and any covered dependents for 18 months following October 29, 2018 (unless he becomes eligible to receive substantially similar coverage from another employer), (iv) accelerated vesting of 144,588 restricted stock units and (v) accelerated vesting of 150,000 performance stock units. Also, Bob Ross ceased to serve as our Chief Financial Officer, effective November 5, 2018. Mr. Ross remained an employee of the Company until January 4, 2019. See “Note 21 – Subsequent Events” below for additional detail on Mr. Ross’ separation from the Company. Payments to Tengram Capital Partners, LP From time to time, the Company expects to reimburse Tengram Capital Partners, LP, an entity that is affiliated with one of the Company’s largest stockholders, for certain travel and other related expenses of its employees related to services performed on the Company’s behalf and at the Company’s request. For the year ended December 31, 2018, the Company incurred expenses of $5.5 million related to reimbursement of expenses, which included (i) $5 million paid in connection with services performed by Tengram Capital Partners and its affiliates on behalf of the Company related to the GBG Acquisition, and (ii) $469 thousand of out of expenses and travel reimbursement. For the year ended December 31, 2017, the Company incurred expenses of $62 thousand related to reimbursement of expenses. SWIMS® Transaction In connection with the acquisition of SWIMS® in July 2016, the Company entered into certain financing arrangements with Tengram II, an entity affiliated with the holder of the Series A Preferred Stock, TCP Denim, LLC. On January 18, 2018, the SWIMS Convertible Note matured and automatically converted into newly issued shares of the Company’s Series A-1 Preferred Stock, par value $0.10 per share, at a conversion price of $3.00 per share. The outstanding balance of the SWIMS Convertible Note, together with any accrued and unpaid interest thereon, converted into 4,587,964 shares of Series A-1 Preferred Stock. Upon the issuance of such shares of Series A-1 Preferred Stock by the Company to Tengram II, the SWIMS Convertible Note was settled in its entirety. SWIMS Warrant In connection with the SWIMS acquisition, we issued to Tengram II a warrant for the purchase of 500,000 shares of common stock at an exercise price of $3.00 per share. The SWIMS Warrant expires on July 18, 2021. The 2024 Convertible Notes On October 29, 2018, we issued convertible promissory notes in an aggregate principal amount of $25.0 million to GSO/ BTO Affiliates. The 2024 Convertible Notes are convertible at the holder’s option beginning on or after October 29, 2019 until the earlier to occur of (x) repayment in full of all principal and interest outstanding under the Second Lien Credit Agreement and (y) October 29, 2024, into shares of the Company’s common stock at a conversion price of $8.00 per share, subject to adjustment. The 2024 Convertible Notes do not initially bear interest. From and after April 29, 2019, the 2024 Convertible Notes shall bear interest at the rate of 12.0% per annum. From and after October 29, 2019, the 2024 Convertible Notes shall bear interest at the rate of 16.0% per annum. Interest payments are due each January 31, April 30, July 31, and October 31. To the extent that we are unable to pay cash interest on the 2024 Convertible Notes on an interest payment date because of restrictions in our credit agreements or our other debt agreements, an amount equal to the unpaid interest then due shall be added to the principal amount of the 2024 Convertible Notes. From and after October 29, 2018 until October 29, 2019, upon consummation of any sales of common stock by us for cash, we may, on at least ten (10) days’ prior written notice to the holder of a 2024 Convertible Note, prepay such 2024 Convertible Note in whole but not in part solely with the net proceeds of such sale of common stock in an amount equal to the greater of (x) the principal amount of such 2024 Convertible Note, together with accrued interest through and including the date of prepayment, or (y) the value equal to (i) the number of shares of common stock that would be received upon conversion of such 2024 Convertible Note on the repayment date multiplied by the market value of the common stock as of such date, plus (ii) any accrued but unpaid interest that has not been added to the principal amount of such 2024 Convertible Note on the date of such prepayment. Also, the 2024 Convertible Notes are prepayable in whole but not in part at the Prepayment Amount: (A) from October 29, 2019 through October 29, 2021 only upon a change in control or a liquidation of us, or (B) from October 29, 2021 until the 2024 Convertible Note Maturity Date, in each case on at least ten (10) days’ prior written notice to the holder. The Private Placement On October 29, 2018, we completed a private placement of 10,000,000 shares of common stock to certain members of management, including Jason Rabin, our CEO, affiliates of Ares and the GSO/BTO Affiliates at $8.00 per share for total consideration of $80.0 million, of which $25.0 million was received from the GSO/BTO Affiliates (in the aggregate) and Jason Rabin. Additionally, in connection with and in consideration of the GSO/BTO Affiliates entering into the Second Lien Term Facility and providing loans to us thereunder, we issued to the GSO/BTO Affiliates 23,094,501 shares of common stock for no additional consideration in a private placement. Stockholder Agreement On October 29, 2018, TCP Denim, LLC, Tengram Capital Partners Fund II, L.P., Tengram Capital Partners Gen2 Fund, L.P., Tengram Capital Associates, LLC and RG II Blocker, LLC (collectively, with TCP Denim, LLC, Tengram Capital Partners Fund II, L.P., Tengram Capital Partners Gen2 Fund, L.P. and Tengram Capital Associates, LLC, the “Tengram Stockholders”) entered into a stockholder agreement (the “Stockholder Agreement”) by and among the Tengram Stockholders, the Company, the GSO/BTO Affiliates (together with the Tengram Stockholders, the “Stockholders”). The Stockholder Agreement contains a number of agreements and restrictions with respect to our securities held by the Stockholders and our obligations. Pursuant to the Stockholder Agreement, our Board of Directors will have eight members. For so long as the Tengram Stockholders beneficially own (i) at least 50% of the shares held by the Tengram Stockholders on a fully diluted basis as of October 29, 2018, the Tengram Stockholders may nominate two directors to our Board of Directors; and (ii) at least 5% of the shares held by the Tengram Stockholders on a fully diluted basis as of October 29, 2018, the Tengram Stockholders may nominate one director to our Board of Directors. The Tengram Stockholders appointed directors are Mr. Eby and Mr. Sweedler (collectively, with their respective successors and replacements, the “ Tengram Directors ”). Similarly, for so long as the GSO/BTO Affiliates beneficially own (i) at least 50% of the shares held by the GSO/BTO Affiliates on a fully diluted basis as of October 29, 2018, GSO Capital Partners LP (on behalf of the GSO/BTO Affiliates) may nominate two directors to our Board of Directors; and (ii) at least 5% of the shares held by the GSO/BTO Affiliates on a fully diluted basis as of October 29, 2018, GSO Capital Partners LP (on behalf of the GSO/BTO Affiliates) may nominate one director to our Board of Directors. The GSO Capital Partners LP appointed directors are Randall Kessler and Robert Petrini (collectively, with their respective successors and replacements, the “ GSO Directors ”). The Stockholders also agreed to cause the removal of the GSO Directors upon the request of GSO Capital Partners LP and the Tengram Directors upon the request of the Tengram Stockholders. Upon the written request of the Tengram Stockholders to GSO Capital Partners LP (on behalf of the GSO/BTO Affiliates) or to the Tengram Stockholders, respectively, to remove one of our independent directors, the Stockholders will use their best efforts to cause such independent director to be removed as one of our directors. Subject to the qualifications discussed below, the Nominating and Governance Committee will consist of one member appointed by the Tengram Stockholders, one member appointed by GSO Capital Partners LP (on behalf of the GSO/BTO Affiliates), and one independent director. For so long as the Tengram Stockholders beneficially own at least 5% of the outstanding shares of our common stock on a fully diluted basis held by the Tengram Stockholders as of October 29, 2018, the Tengram Stockholders may nominate one member of the Nominating Committee. For so long as the GSO/BTO Affiliates beneficially own at least 5% of the outstanding shares of common stock of the Company on a fully diluted basis held by the GSO/BTO Affiliates as of October 29, 2018, GSO Capital Partners LP (on behalf of the GSO/BTO Affiliates) may nominate one member of the Nominating Committee. The Stockholders agreed that they will not support the election of any independent director unless that individual is mutually acceptable to the Tengram Stockholders and the GSO/BTO Affiliates and to support the election of our Chief Executive Officer to the Board of Directors. The Stockholders also agreed that, prior to the “Restriction Expiration Time,” which is defined as the earliest to occur of October 29, 2020, the date of a change of control of the Centric Brands Inc. and otherwise by agreement between us and the Stockholders, subject to certain limited exceptions described in the Stockholder Agreement, the Stockholders may not transfer their shares of common stock or securities convertible into common stock (the “ Restriction Shares ”) or enter into voting arrangement or grant a proxy on their Restriction Shares other than in accordance with the Stockholder Agreement. The Tengram Stockholders also granted each of Ares and HPS Investment Partners, LLC a lockup on the Tengram Stockholders’ holdings of common stock prior to the Restriction Expiration Time, subject to certain limited exceptions described therein. The Stockholders agreed to grant the other Stockholders a binding right of first offer on the sale of their holdings of common stock until October 29, 2020 (subject to certain limited exceptions). Also, the Stockholders agreed to give the Company prior written notice of the transfer of Restricted Securities prior to certain transfers of such Restricted Securities. Registration Rights Agreement On October 29, 2018, in connection with the GBG Acquisition, we entered into a registration rights agreement with the GSO/BTO Affiliates (the “ GSO RRA ”). Also on such date, we entered into a registration rights agreement with Ares Capital Corporation and its certain of its affiliates (the “ Ares RRA ”, and, together with the GSO RRA, the “ RRAs ”). Pursuant to the RRAs, and subject to the limitations described therein, the Company will provide certain demand and piggy back registration rights with respect to shares of our common stock (or securities convertible into common stock) held by the GSO/BTO Affiliates and by Ares and its affiliates who hold our securities. Additionally, pursuant to Jason Rabin’s subscription agreement with us to purchase common stock in the Private Placement, dated as of October 29, 2018, we agreed to provide certain piggy back registration rights with respect to shares of common stock (or securities convertible into common stock) held by Mr. Rabin. Conversion On October 29, 2018, (i) fifty thousand (50,000) shares of the Company’s Series A Preferred Stock were converted at the election of the holders hereof into 5,852,142 shares of common stock in accordance with the terms of the Series A Preferred Stock, and (ii) 4,587,964 shares of the Company’s Series A-1 Preferred Stock were converted at the election of the holders thereof into 4,951,177 shares of common stock in accordance with the terms of the Series A-1 Preferred Stock. Management Incentive Plan On October 29, 2018, we entered into a letter agreement with the GSO/BTO Affiliates. Under the MIP Letter, we agreed to create a new stock incentive compensation plan for the amount of 1,776,500 shares of our common stock, which will be allocated by a Special Committee of the Board of Directors in accordance with the Stockholder Agreement. The parties are in process of finalizing an amendment to the MIP Letter, pursuant to which the Company expects the shares to be allocated under our existing 2016 Stock Incentive Plan instead of a newly created plan and such grants would be subject to the same terms as the 2016 Stock Incentive Plan. Upon the forfeit of any awards granted at the direction of the Special Committee under the 2016 Stock Incentive Plan, the Company expects to issue the equivalent amount of shares of common stock to GSO for no additional consideration.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Employee Benefit Plans
Employee Benefit Plans	20. Employee Benefit Plans The Hudson Clothing LLC 401(k) Plan (the “ Hudson Plan ”), covers employees employed by Hudson. All employees who have worked for Hudson after 30 days may participate in the Hudson Plan and may contribute up to the maximum amount allowed by law of their salary to the plan. The Company may make matching contributions on a discretionary basis. The Differential Brands Group Inc. 401(k) Plan (the “ DBG Plan ”), covers employees employed by Differential Brands Group, Inc. All employees who have worked for Differential Brands Group Inc. after 6 months may participate in the DBG Plan and may contribute up to the maximum amount allowed by law of their salary to the plan. The Company may make matching contributions on a discretionary basis. All employees who have worked 1,000 hours qualify for profit sharing in the event at the end of each year the Company decides to do so. The Robert Graham Design 401(k) Plan (the “ RG Plan ”), covers employees employed by Robert Graham and SWIMS. After completing 90 days of service, all employees who have worked for Robert Graham or SWIMS become eligible to participate in the RG Plan from the first day of each calendar quarter and may contribute up to the maximum amount allowed by law of their salary to the plan. The Company may make matching contributions on a discretionary basis. All employees who have worked 1,000 hours qualify for profit sharing in the event at the end of each year the Company decides to do so. Administrative expense for these plans totaled $24 thousand and $36 thousand for the years ended December 31, 2018 and 2017, respectively, included in selling, general and administrative expenses within the accompanying consolidated statements of operations and comprehensive income (loss). Matching contributions were $156 thousand and $238 thousand for the years ended December 31, 2018 and 2017, respectively, included in selling, general and administrative expenses within the accompanying consolidated statements of operations and comprehensive income (loss).

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events
Subsequent Events	21. Subsequent Events New Credit Agreements Amendments On April 17, 2019, the Company entered into the first amendment and waiver (the “ 1L Amendment ”) to the First Lien Credit Agreement to, among other things: (i) increase the aggregate commitments under the New Revolving Facility under the First Lien Credit Agreement from $150.0 million aggregate principal amount to $200.0 million; (ii) increase the amount of the permitted securitization facility under the RPA from $550.0 million to $600.0 million; (iii) increase the borrowing base of the First Lien Credit Agreement as set forth in the 1L Amendment; and (iv) amend and restate the Company’s consolidated fixed charge ratio covenant. On April 17, 2019, the Company entered into the first amendment and waiver (the “ 2L Amendment ”) to the Second Lien Credit Agreement to, among other things, increase the amount of amount of indebtedness under the First Lien Credit Agreement from $795.0 million to $845.0 million. In connection with the 1L Amendment, the Company paid the lenders under the New Revolving Facility a fee of $1.5 million. Also, on or around April 15, 2019, the Company received consents under the First Lien Credit Agreement, the Second Lien Credit Agreement and under the RPA to, among other things, extend the deadline for the Company to complete and publicly file its 2018 year-end financial statements until May 15, 2019. RPA/PSA Amendments On April 25, 2019, the Company entered an amendment to its trade receivables securitization facility (the “Receivables Facility” ) pursuant to (i) an amendment to (the “PSA Amendment” ) the PSA and (ii) an amendment to (the “RPA Amendment” ) the RPA. Under the terms of the PSA Amendment, the Originators sell or contribute certain of their trade accounts receivable, related collections and security interests (the “Receivables” ) to Spring on a revolving basis. Under the terms of the RPA Amendment, Spring sells to the Purchasers an undivided ownership interest in the Receivables for up to $600 million in cash proceeds, an increase of $150 million. Ross Separation Agreement Mr. Ross ceased to serve as Chief Financial Officer of the Company, effective November 5, 2018. Mr. Ross remained an employee of the Company until January 4, 2019. On April 9, 2019, the Company and Mr. Ross entered into a separation agreement and release, effective as of April 16, 2019 (the “Ross Separation Agreement” ), whereby Mr. Ross will receive certain separation payments and includes customary waiver and release provisions. The entry into the Separation Agreement effectively terminated the employment agreement, dated as of January 30, 2017 previously entered into by and between the Company and Mr. Ross (the “Ross Employment Agreement” ). Pursuant to the Ross Separation Agreement, Mr. Ross resigned from all positions with the Company and any of its subsidiaries effective as of January 4, 2019. Pursuant to the Ross Separation Agreement, Mr. Ross received (i) the continuation of his base salary due under the Ross Employment Agreement through January 4, 2020, (ii) a lump sum cash payment of $10,000 as reimbursement for legal fees incurred in connection with the Ross Separation Agreement, (iii) the full payment towards the cost of COBRA continuation coverage for himself and any covered dependents for 18 months following January 4, 2019 (unless he becomes eligible to receive substantially similar coverage from another employer) and (iv) accelerated vesting of 133,333 RSUs. NASDAQ Notice On April 18, 2019, the Company received a notice (the “ Notice ”) from NASDAQ stating that because the Company had not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (the “ Form 10-K ”), the Company is no longer in compliance with NASDAQ Listing Rule 5250(c)(1). NASDAQ Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The Notice states that the Company has 60 calendar days, or until June 17, 2019, to submit to NASDAQ a plan to regain compliance with the NASDAQ Listing Rules. If NASDAQ accepts the Company’s plan, then NASDAQ may grant the Company up to 180 days from the prescribed due date for filing the Form 10-K (as extended pursuant to Rule 12b-25 under the Securities Exchange Act of 1934, as amended), or until October 14, 2019, to regain compliance. If NASDAQ does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a NASDAQ Hearings Panel. The Company filed this Form 10-K with the Securities and Exchange Commission prior to the due date of such plan to regain compliance with the NASDAQ Listing Rules. Bylaws Amendment Effective May 15, 2019, the Company amended and restated its Bylaws to, among other things, update its name and to add Section 3.6, requiring the Company to consult with its board of directors prior to voluntarily commencing bankruptcy proceedings.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company, including its wholly-owned and majority-owned subsidiaries. All material intercompany accounts and transactions have been eliminated. We do not have any investments in companies that represent less than 20% of the related ownership interests.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of estimates relate primarily to allowance for bad debts, returns, sales allowances, and customer chargebacks, inventory write-downs, valuation of goodwill, intangible and long-lived assets, and valuation of deferred income taxes. Actual results could differ from these estimates.
Revenue Recognition	Revenue Recognition The Company adopted Accounting Standards Codification ( “ASC 606” ), Revenue from Contracts with Customers , with a date of initial application of January 1, 2018. As a result, the Company has changed its accounting policy for revenue recognition as described below. The Company applied ASC 606 using the modified retrospective approach – i.e. by recognizing the cumulative effect of initially applying ASC 606 as an adjustment to the opening balance of equity at January 1, 2018. Therefore, the comparative information has not been adjusted and continues to be reported under ASC 605. The details of the significant changes and quantitative impact of the changes are set out below. The Company applied the modified retrospective approach only to contracts that were not complete as of the date of the initial application, January 1, 2018. Effective January 1, 2018, wholesale revenues are recorded when a contract with the customer is agreed to by both parties and product has been transferred, which generally occurs at the point of shipment from the Company’s warehouse, and recorded at the transaction price based on the amount the Company expects to receive. Collection is probable as the majority of shipments occur to reputable credit worthy businesses and through factored relationships which guarantee payment. Estimated reductions to revenue for customer allowances are recorded based upon history as a percentage of sales and current outstanding chargebacks. The Company may allow for returns based upon pre-approval or in the case of damaged goods. Such returns are estimated based on historical experience and also specific claims filed by the customer. Beginning January 1, 2018, a refund liability is included in accounts payable and accrued expenses within the accompanying consolidated balance sheet, which was previously recorded net of accounts receivable. Also, effective January 1, 2018, the Company records a return asset receivable in prepaid expenses and other current assets within the accompanying consolidated balance sheet. Prior to January 1, 2018, inventory expected to be returned was recorded within inventories. The return asset receivable is evaluated for impairment each period. The Company recorded a decrease of $569 thousand to opening accumulated deficit as of January 1, 2018 to record the return asset receivable and related impairment charge. Retail store revenue is recognized at the time the customer takes possession of the related merchandise. Revenue for ecommerce sales of products ordered through the Company’s retail internet sites are recognized at the point of shipment to the customer. Prior to January 1, 2018, revenue for ecommerce sales was recorded at the point of delivery to the customer. The Company recorded an adjustment to increase the opening accumulated deficit as of January 1, 2018 by $39 thousand, to reflect the impact on ecommerce shipments from adopting ASC 606. Ecommerce revenue was reduced by an estimate for returns based on the historical rate of return as a percent of sales. Retail store revenue and ecommerce revenue exclude sales taxes collected from the customer. Revenue from licensing arrangements is recognized based on actual sales when the Company expects royalties to exceed the minimum guarantee. For licensing arrangements in which the Company does not expect royalties to exceed the minimum guarantee, an estimate of the transaction price is recognized on a straight-line basis over the term of the contract. A contract asset is recorded for revenue recognized in advance of the contract payment terms, which is included in other assets within the accompanying consolidated balance sheet. Nonrefundable upfront fees are recorded as a contract liability and revenue is recognized straight-line over the term of the contract. Contract liabilities are included in other liabilities within the accompanying consolidated balance sheet. Prior to January 1, 2018, revenue from licensing arrangements was recognized when earned in accordance with the terms of the underlying agreements and deemed collectible, generally based upon the higher of (a) the contractually guaranteed minimum royalty or (b) actual net sales data received from licensees. The Company recorded an adjustment to increase the opening accumulated deficit as of January 1, 2018, by $1.3 million, to reflect the impact on licensing revenue from adopting ASC 606. Amounts related to shipping and handling that are billed to customers are considered to be activities to fulfill a promise to transfer the goods and are reflected in net sales, and the related costs are reflected in cost of goods sold within the accompanying consolidated statements of operations and comprehensive (loss) income. This accounting treatment is consistent with the Company’s treatment of shipping and handling revenue prior to January 1, 2018. The adoption of ASC 606 had no net impact on the Company's consolidated statement of cash flows for the year ended December 31, 2018.
Business Combinations	Business Combinations The Company accounts for business acquisitions under ASC 805, Business Combinations . The total purchase consideration for an acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities assumed at the acquisition date. Costs that are directly attributable to the acquisition are expensed as incurred. Identifiable assets (including intangible assets), liabilities assumed (including contingent liabilities) and noncontrolling interests in an acquisition are measured initially at their fair values at the acquisition date. The Company recognizes goodwill if the fair value of the total purchase consideration and any noncontrolling interests is in excess of the net fair values of the identifiable assets acquired and the liabilities assumed. The Company recognizes a bargain purchase gain within other income (expense), net, on the consolidated statement of operations if the net fair value of the identifiable assets acquired and the liabilities assumed is in excess of the fair value of the total purchase consideration and any noncontrolling interests. The Company includes the results of operations of the acquired business in the consolidated financial statements beginning on the acquisition date.
Cash Equivalents	Cash Equivalents All highly liquid investments that are both readily convertible into known amounts of cash and mature within 90 days from their date of purchase are considered to be cash equivalents. Such investments are stated at cost, which approximates fair value.
Accounts Receivable, Factored Accounts Receivable and Allowance for Bad Debts, Sales Allowances, and Customer Chargebacks	Accounts Receivable, Factored Accounts Receivable and Allowance for Bad Debts, Sales Allowances, and Customer Chargebacks The Company evaluates its ability to collect accounts receivable, factor accounts receivable with recourse and charge-backs (customer disputes) based upon a combination of factors. Reserves for chargebacks are recognized based on historical collection experience. A specific reserve for bad debts is taken against amounts due to reduce the net recognized receivable to the amount reasonably expected to be collected. Whether a receivable is past due is based on how recently payments have been received and in certain circumstances when the Company is aware of a specific customer’s inability to meet its financial obligations (e.g., bankruptcy filings, substantial downgrading of credit sources, etc.). Amounts are written off against the reserve once it is established that it is remote such amounts will be collected. The Company also reserves for potential sales returns and allowances based on historical trends.
Inventories	Inventories Inventory is valued at the lower of cost or net realizable value with cost determined by the first-in, first-out method. Inventory consists of finished goods, work-in-process and raw materials. The Company continually evaluates its inventory by assessing slow moving current product. Net realizable value of non-current inventory is estimated based on historical sales trends, the impact of market trends, an evaluation of economic conditions and the value of current orders relating to future sales. Inventory reserves establish a new cost basis for inventory. Such reserves are not reversed until the related inventory is sold or otherwise disposed of. Costs capitalized in inventory include the purchase price of raw materials, contract labor and production costs, plus in-bound transportation costs, and import fees and duties.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation and amortization is calculated using the straight - line method over the following estimated useful lives of the assets: Computer and equipment: 3 to 7 years Furniture and fixtures: 3 to 7 years Leasehold improvements: Shorter of 10 years or term of lease Maintenance and repairs are charged to expense as incurred. Upon sale or retirement, the asset cost and related accumulated depreciation or amortization is removed from the accounts, and any related gain or loss is included within selling, general and administrative expenses within the accompanying consolidated statements of operations and comprehensive income (loss).
Impairment of Long-Lived Assets, Intangible Assets and Goodwill	Impairment of Long‑Lived Assets, Intangible Assets and Goodwill The Company assesses the impairment of long - lived assets, identifiable intangible assets and goodwill whenever events or changes in circumstances indicate that the carrying value may not be recoverable. In addition, the Company assesses goodwill and indefinite lived intangible assets for impairment annually. Factors considered important that could trigger an impairment review other than on an annual basis include the following: · A significant underperformance relative to historical or projected future operating results; · A significant change in the manner of the use of the acquired asset or the strategy for the overall business; or · A significant negative industry or economic trend. The estimated cash flows used for this nonrecurring fair value measurement are considered a Level 3 input as defined in “Note 13 – Fair Value Measurement of Financial Instruments.” Impairment of Long‑Lived Assets and Intangible Assets Subject to Amortization When the Company determines that the carrying value of long‑lived assets, such as property and equipment, and intangible assets subject to amortization, may not be recoverable based upon the existence of one or more of the aforementioned factors and the carrying value exceeds the estimated undiscounted cash flows expected to be generated by the asset, impairment is measured based on a projected discounted cash flow method using a discount rate determined by management. These cash flows are calculated by netting future estimated sales against associated merchandise costs and other related expenses such as payroll, occupancy and marketing. The impairment loss calculations require management to apply judgment in estimating future cash flows and the discount rates that reflect the risk inherent in future cash flows. Future expected cash flows for retail store assets are based on management’s estimates of future cash flows over the remaining lease period or expected life, if shorter. The Company considers historical trends, expected future business trends and other factors when estimating each store’s future cash flow. The Company also considers factors such as: the local environment for each store location, including mall traffic and competition; the ability to successfully implement strategic initiatives; and the ability to control variable costs such as cost of sales and payroll, and in some cases, costs to renegotiate a lease. If actual results are not consistent with the assumptions and judgments used in estimating future cash flows and asset fair values, there may be additional exposure to future impairment losses that could be material to the Company’s results of operations. There were no impairment charges recorded during the year ended December 31, 2018 and an immaterial amount recorded during the year ended December 31, 2017. Intangible assets subject to amortization, such as customer relationships, are amortized over their estimated useful lives. There was no impairment charge recorded related to intangible assets subject to amortization during the years ended December 31, 2018 and 2017. Goodwill and Indefinite Lived Intangible Assets Goodwill and intangible assets with indefinite lives, such as trademarks, are not amortized, but are tested at least annually for impairment on December 31 of each year or when circumstances indicate their carrying value may not be recoverable. Goodwill is evaluated for impairment by determining the fair value of each reporting unit and comparing this value to its carrying value. If the fair value exceeds the carrying value, including goodwill, no further work is required and no impairment loss would be recognized. If the carrying value exceeds the fair value of the assets, goodwill impairment is recorded for the amount that the reporting unit's carrying amount exceeds its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company calculates the value of the indefinite lived intangible assets using a discounted cash flow method, based on the relief from royalty method. There was no impairment charge recorded related to indefinite lived intangible assets or goodwill during the years ended December 31, 2018 and 2017.
Deferred Rent and Tenant Allowances	Deferred Rent and Tenant Allowances When a lease includes lease incentives (such as a rent holiday) or requires fixed escalations of the minimum lease payments, rental expense is recognized on a straight‑line basis over the term of the lease starting from the date of possession and the difference between the average rental amount charged to expense and amounts payable under the lease is included in deferred rent in the accompanying consolidated balance sheets. Deferred rent also includes tenant allowances received from landlords which are amortized as a reduction to rent expense on a straight-line basis over the term of the lease starting at the date of possession.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs are amortized using the effective interest rate method over the term of the related agreements and recorded as a component of interest expense in the accompanying consolidated statements of operations and comprehensive income (loss). Amortization of deferred financing costs included in interest expense was approximately $3.1 million and $0.4 million for the years ended December 31, 2018 and 2017, respectively. Deferred financing costs are presented on the consolidated balance sheets as a direct reduction of the related debt or in other assets.
Costs of Goods Sold	Cost of Goods Sold Cost of goods sold includes the following: the cost of merchandise; customs related taxes and duties; production costs, including directly attributable overhead costs; delivery expense; in-bound and outbound freight; obsolescence and shrink provisions; design costs; warehousing and handling costs; and other inventory acquisition related costs. Under our license agreements, we are generally required to pay guaranteed minimum royalties and make specified additional royalty and advertising payments (usually based on a percentage of net sales). Such payments are recognized within costs of sales at the higher of royalties incurred or on a straight line basis over the period covered by the guaranteed minimums.
Selling, General and Administrative Expenses	Selling, General and Administrative Expenses Selling, general and administrative expenses include salaries and benefits, travel and entertainment, professional fees, advertising, marketing, facilities, and bad debt expense.
Advertising Costs	Advertising Costs Advertising costs are charged to expense as incurred, except for direct to consumer advertising, which is capitalized and amortized over its expected period of future benefit. Advertising expenses included in selling, general and administrative expenses within the accompanying consolidated statements of operations and comprehensive income (loss) were $13.9 million and $9.5 million for the years ended December 31, 2018 and 2017, respectively. Prepaid advertising costs were $5.3 million and $0.9 million at December 31, 2018 and 2017, respectively.
Stock-Based Compensation	Stock‑Based Compensation The cost of all employee stock‑based compensation awards is measured based on the grant date fair value of those awards and recorded as compensation expense over the period during which the employee is required to perform service in exchange for the award (generally over the vesting period of the award). The cost of all non-employee stock‑based compensation awards is measured based on the grant date fair value of those awards and revalued each reporting period, and is recorded as compensation expense over the service period. For all stock based compensation awards that contain graded vesting based on service conditions, the Company has elected to apply a straight‑line recognition method to account for these awards. See “Note 14 – Equity.”
Income Taxes	Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred taxes are determined based on the temporary differences between the net book value and tax bases of assets and liabilities using enacted tax rates. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. Quarterly, management reassesses the need for a valuation allowance. The likelihood of a material change in the expected realization of these assets depends on the Company’s ability to generate sufficient future taxable income. The ability to generate enough taxable income to utilize the deferred tax assets depends on many factors, among which is the Company’s ability to deduct tax loss carry‑forwards against future taxable income, the effectiveness of tax planning strategies and reversing deferred tax liabilities. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. See “Note 18 – Income Taxes” for the impact of the Tax Act. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based upon a full knowledge of the facts and the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based upon the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. The Company’s policy is to recognize interest and penalties that would be assessed in relation to the settlement value of unrecognized tax benefits as a component of income tax benefit within the accompanying consolidated statements of operations and comprehensive income (loss).
Comprehensive Loss	Comprehensive Loss Comprehensive loss represents the change in equity resulting from transactions other than stockholder investments and distributions. Accumulated other comprehensive income includes changes in equity that are excluded from net loss, specifically, unrealized gains and losses on foreign currency translation adjustments and is presented within the consolidated statements of equity. The Company presents the components of comprehensive loss within the consolidated statements of operations and comprehensive loss.
Foreign Currency Translation	Foreign Currency Translation The Company’s wholly owned direct foreign operations present their financial reports in the currency used in the economic environment in which they mainly operate, known as the functional currency. Assets and liabilities in foreign subsidiaries are translated into U.S. dollars at the exchange rate as of the balance sheet date, while revenues and expenses are translated using the average monthly exchange rate. Gains and losses from these foreign currency translation adjustments are recognized within accumulated other comprehensive income/loss within the accompanying consolidated statements of equity.
Earnings per Share	Loss per Share Basic loss per share, or EPS, is computed using net loss attributable to common stockholders and the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common and potentially dilutive common shares outstanding during the period except for periods of net loss for which no common share equivalents are included because their effect would be anti‑dilutive. Dilutive common equivalent shares consist of common stock issuable upon exercise of stock options, restricted stock and restricted stock units using the treasury stock method. Dilutive common stock equivalent shares issuable upon conversion of the Company’s outstanding convertible notes are calculated using the if‑converted method. The Company calculated basic and diluted loss per common share for the year ended December 31, 2017 using the two-class method. Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all of the net earnings for the period had been distributed. The Company’s participating securities as of December 31, 2017 consisted of convertible preferred shares that contained a nonforfeitable right to receive dividends and therefore were considered to participate in undistributed earnings with common stockholders.
Concentration of Risk	Concentration of Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents, accounts receivable and factored accounts receivable. The Company maintains cash and cash equivalents with various financial institutions. The policy is designed to limit exposure to any one institution. Periodic evaluations are performed of the relative credit rating of those financial institutions that are considered in the Company’s investment strategy. The vast majority of trade receivables from sales to customers are subsequently sold to a financial institution pursuant to a trade receivables securitization facility. The sale of trade receivables are made on a recourse basis however are guaranteed through credit insurance purchased from an unrelated financial institution. When insured, the Company is not at risk if a customer fails to pay. For trade receivables not sold to a financial institution, the Company generally does not require collateral. As of December 31, 2018, the net deferred purchase price of trade receivables sold pursuant to the RPA (as defined below) totaled $33.8 million. The RPA was not in place as of December 31, 2017 (see “Note 4 – Factored Accounts and Receivables”). The Company provides an allowance for estimated losses to be incurred in the collection of accounts receivable based upon the aging of outstanding balances and other account monitoring analysis. The net carrying value approximates the fair value for these assets. Such losses have historically been within management’s expectations. Uncollectible accounts are written off once collection efforts are deemed by management to have been exhausted. For the years ended December 31, 2018 and 2017, sales to customers or customer groups representing 10 percent or greater of net sales are as follows: Year ended December 31, 2018 2017 Customer A 14 % 15 %
Fair Value of Financial Instruments	Year ended December 31, 2018 2017 Customer A 14 % 15 % Fair Value of Financial Instruments Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. ASC 820 , Fair Value Measurements and Disclosures also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of us. Unobservable inputs are inputs that reflect our assumptions about the factors market participants would use in valuing the asset or liability. The guidance establishes three levels of inputs that may be used to measure fair value: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. The fair value of financial instruments held (which consist of cash and cash equivalents, accounts receivable, factored accounts receivable and accounts payable) do not differ materially from their recorded amounts because of the relatively short period of time between origination of the instruments and their expected realization. The carrying amounts of the line of credit and long-term debt approximate fair value because of the variable interest rates. The fair value of the Company’s outstanding convertible notes is based on the amount of future cash flows associated with the instrument discounted using the incremental borrowing rate, which are considered Level 3 liabilities. As a part of our working capital management, we sell certain accounts receivable through a third party financial institution in off-balance sheet arrangements. The amount sold varies each month based on the amount of underlying receivables and cash flow needs. As of December 31, 2018 and 2017, we had $424.2 million and zero, respectively, of receivables outstanding under receivable factoring agreements entered into by various entities. Expenses incurred on the sale of receivables were $1.7 million and $0.0 million for the years ended December 31, 2018 and 2017, respectively. These amounts are recorded in interest expense in the consolidated statements of operations.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Sales
Schedule of sales to customers or customer groups representing greater than 10 percent of net sales	Year ended December 31, 2018 2017 Customer A 14 % 15 %

GBG Acquisition (Tables)

GBG Acquisition (Tables)	12 Months Ended
	Dec. 31, 2018
GBG Acquisition
Schedule of allocation of the preliminary purchase price	The following table summarizes the allocation of the preliminary purchase price for the GBG Acquisition as of October 29, 2018 (in thousands): Purchase Price Allocation Assets acquired and liabilities assumed: Accounts receivable $ 65,106 Inventories 371,605 Prepaid expenses and other current assets 56,380 Property and equipment 86,971 Other assets 41 Accounts payable and accrued expenses (589,849) Intangible assets and liabilities acquired: Goodwill 367,725 Leasehold interests (2,310) Customer relationships 824,000 Preliminary purchase price $ 1,179,669
Schedule of unaudited pro forma results	Year ended December 31, 2018 2017 (in thousands) Net sales $ 2,302,195 $ 2,244,604 Cost of goods sold 1,785,871 1,691,199 Gross margin 516,324 553,405 Gross margin % of net sales 22.4 % 24.7 % Operating expenses Selling, general and administrative 569,726 423,392 Depreciation and amortization 90,241 92,554 Total operating expenses 659,967 515,946 Operating (loss) income (143,643) 37,459 Interest expense 156,329 152,082 Gain on contingent consideration (17,675) (18,687) Loss before income taxes (282,297) (95,936) Income tax benefit 5,927 5,331 Net loss $ (276,370) $ (90,605) Loss per common share – basic $ (4.75) $ (1.58) Loss per common share – diluted $ (4.75) $ (1.58) Weighted average shares outstanding basic and diluted 58,143 57,516

Factored Accounts and Receiva_2

Factored Accounts and Receivables (Tables)	12 Months Ended
	Dec. 31, 2018
Factored Accounts and Receivables
Schedule of accounts receivables	Accounts receivables consisted of the following (in thousands): December 31, 2018 December 31, 2017 Non-recourse receivables sold $ 380,595 $ — Recourse receivables sold 43,630 — Total receivables sold 424,225 — Purchase price of sold receivables (364,900) — Allowances and bad debt (25,500) — Sold receivables, net $ 33,825 $ — Accounts receivable, net 27,910 27,013 Allowances and bad debt — (4,767) Total accounts receivable, net $ 27,910 $ 22,246

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2018
Inventories
Schedule of inventories	Inventories are valued at the lower of cost or net realizable value with cost determined by the first‑in, first‑out method. Inventories consisted of the following (in thousands): December 31, 2018 December 31, 2017 Finished goods $ 315,484 $ 31,245 Raw materials and work in progress 27,468 488 Total inventories $ 342,952 $ 31,733

Prepaid expenses and other cu_2

Prepaid expenses and other current assets (Tables)	12 Months Ended
	Dec. 31, 2018
Prepaid expenses and other current assets
Schedule of prepaid expenses and other current assets	December 31, 2018 December 31, 2017 Prepaid expenses $ 21,547 $ 4,740 Prepaid royalty 12,645 — Non-trade receivable 8,935 — Prepaid marketing and advertising 5,251 92 Total prepaid expenses and other current assets $ 48,378 $ 4,832

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property and Equipment
Schedule of property and equipment	Property and equipment consisted of the following (in thousands): December 31, 2018 December 31, 2017 Computer and equipment $ 9,638 $ 6,214 Furniture and fixtures 14,580 6,245 Leasehold improvements 77,817 9,302 102,035 21,761 Less: accumulated depreciation and amortization (17,885) (13,639) Construction in progress 8,894 295 Property and equipment, net $ 93,044 $ 8,417

Intangible Assets and Liabili_2

Intangible Assets and Liabilities Goodwill (Tables)	12 Months Ended
	Dec. 31, 2018
Intangible Assets and Liabilities Goodwill
Schedule of intangible assets	Intangible assets as of December 31, 2018 consisted of the following (in thousands): Amortization Accumulated Period Gross Amount Amortization Net Amount Trade names Indefinite $ 65,887 $ — $ 65,887 Customer relationships 7 to 20 Years 859,101 27,543 831,558 Non-compete agreements 3 Years 135 110 25 Total $ 925,123 $ 27,653 $ 897,470 Intangible assets as of December 31, 2017 consisted of the following (in thousands): Amortization Accumulated Period Gross Amount Amortization Net Amount Trade names Indefinite $ 65,812 $ — $ 65,812 Customer relationships 7 to 15 Years 35,081 11,629 23,452 Non-compete agreements 3 Years 133 65 68 Total $ 101,026 $ 11,694 $ 89,332
Schedule of future amortization expense related to finite-lived intangible assets	As of December 31, 2018, future amortization expense related to the finite-lived intangible assets is as follows (in thousands): 2019 $ 77,911 2020 77,889 2021 77,887 2022 77,887 2023 77,887 Thereafter 442,122 Total $ 831,583
Schedule of goodwill	Goodwill consisted of the following as of December 31, 2018 and December 31, 2017 (in thousands): December 31, 2018 December 31, 2017 Beginning balance $ 8,380 $ 8,271 Goodwill created by the GBG Acquisition 367,725 — Other 27 109 Ending balance $ 376,132 $ 8,380

Other assets (Tables)

Other assets (Tables)	12 Months Ended
	Dec. 31, 2018
Other assets
Schedule of other assets	December 31, 2018 December 31, 2017 Deferred debt financing fees $ 8,901 $ — Other receivables and deposits long-term 824 484 Total other assets $ 9,725 $ 484

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Accounts Payable and Accrued Expenses
Schedule of accounts payable and accrued expenses	Accounts payable and accrued expenses consisted of the following (in thousands): December 31, 2018 December 31, 2017 Accounts payable $ 290,104 $ 7,384 Accrued expenses 128,990 5,922 Accrued royalty 56,595 — Accrued payroll and other benefits 20,814 2,236 Accrued interest 22,128 1,768 Other 7,232 4,894 Total $ 525,863 $ 22,204

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies
Schedule of future minimum rental payments under non-cancelable retail operating leases with lease terms in excess of one year	As of December 31, 2018, the future minimum rental payments under non‑cancelable operating leases with lease terms in excess of one year were as follows (in thousands): 2019 $ 44,295 2020 39,771 2021 37,722 2022 35,554 2023 31,110 Thereafter 125,863 Total $ 314,315
Schedule of future minimum rental payments under non-cancelable capital leases with lease terms in excess of one year	As of December 31, 2018, the future minimum rental payments under non-cancelable capital leases with lease terms in excess of one year were as follows (in thousands): 2019 $ 3,522 2020 1,033 2021 654 2022 165 2023 — Thereafter — Total $ 5,374
Schedule of contractual obligations to pay minimum guaranteed royalty and relating advertising commitments	As of December 31, 2018, our contractual obligations to pay minimum guaranteed royalty and relating advertising commitments were as follows (in thousands): 2019 $ 121,843 2020 98,597 2021 78,061 2022 36,567 2023 30,396 Thereafter 119,655 Total $ 485,119

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of five year payment of term debt and line of credit and modified convertible notes	The five-year payment schedule of the Company’s debt as of December 31, 2018 is as follows (in thousands): Original Deferred Issue Payment Due by Period Financing Discount Carrying 2019 2020 2021 2022 2023 Thereafter Total Costs, Net (Premium), Net Value Revolving facilities $ 315 $ — $ — $ — $ — $ — $ 315 $ — $ — $ 315 1L Term Loan 11,287 32,250 32,250 32,250 536,963 — 645,000 (29,438) 11,437 626,999 2L Term Loan — — — — — 671,513 671,513 (20,663) (71,265) 579,585 Convertible notes — — 17,979 — — 25,000 42,979 (1,355) (5,389) 36,235 Total $ 11,602 $ 32,250 $ 50,229 $ 32,250 $ 536,963 $ 696,513 $ 1,359,807 $ (51,456) $ (65,217) $ 1,243,134
Schedule of interest expense	Year ended December 31, 2018 2017 Contractual coupon interest $ 29,176 $ 7,716 Non-cash interest expense (including amortization of discounts and deferred financing costs) 9,151 1,128 Total interest expense $ 38,327 $ 8,844
2024 Convertible Notes
Schedule of summary of recorded value of convertible debt	The following table is a summary of the recorded value of the 2024 Convertible Notes as of December 31, 2018 (in thousands). December 31, 2018 2024 Convertible Notes - face value $ 25,000 Less: Original issue discount (4,522) Short-term convertible note recorded value on issue date 20,478 PIK interest issued — Accumulated accretion of original issue debt discount 534 2024 Convertible Notes value $ 21,012
Modified Convertible Notes
Schedule of summary of recorded value of convertible debt	The following table is a summary of the recorded value of the Modified Convertible Notes as of December 31, 2018 and December 31, 2017 (in thousands). The value of the Modified Convertible Notes reflects the present value of the contractual cash flows from the Modified Convertible Notes and resulted in an original issue discount of $4.7 million that was recorded on January 28, 2016, the issuance date. December 31, 2018 December 31, 2017 Modified convertible notes - face value $ 16,473 $ 16,473 Less: original issue discount (4,673) (4,673) Modified convertible notes recorded value on issue date 11,800 11,800 PIK interest issued 1,505 925 Accumulated accretion of original issue debt discount 1,918 1,141 Modified convertible notes value $ 15,223 $ 13,866

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Equity
Summary of stock option activity by plan	The following table summarizes stock option activity by incentive plan for the years ended December 31, 2018 and December 31, 2017 (in actual amounts): Amended and 2016 Stock Total Number Restated Plan Incentive Plan of Shares Outstanding at January 1, 2017 444 150,000 150,444 Granted — — — Exercised — — — Forfeited / Expired — (79,723) (79,723) Outstanding at December 31, 2017 444 70,277 70,721 Outstanding at January 1, 2018 444 70,277 70,721 Granted — 250,000 250,000 Exercised — — — Forfeited / Expired — — — Outstanding at December 31, 2018 444 320,277 320,721
Schedule of stock option activity in the aggregate	The following table summarizes stock option activity for all incentive plans for the years ended December 31, 2018 and 2017 (in actual amounts): Weighted Weighted Average Aggregate Average Remaining Contractual Intrinsic Options Exercise Price Life (Years) Value Outstanding at January 1, 2018 70,721 $ 4.07 4.55 $ — Granted 250,000 4.22 2.81 Exercised — — Expired — — Forfeited — — Outstanding at December 31, 2018 320,721 $ 4.19 8.45 $ — Exercisable at December 31, 2018 70,721 $ 4.07 3.55 $ —
Schedule of exercise prices for options outstanding and exercisable	The following table summarizes exercise prices for options exercisable as of December 31, 2018 (in actual amounts): Options Exercisable Exercise Price Number of Shares Weighted-Average $ 4.02 70,277 5.4 $ 11.40 444 6.0 70,721
Schedule of key input assumptions used to estimate the fair value of stock options	2018 2017 Stock Price on Grant Date $ 4.22 $ 1.85 Expected Dividend Rate 0.00 % 0.00 % Expected Volatility 60.00 % 60.00 % Exercise Price $ 4.22 $ 4.02 Risk Free Rate 3.08 % 1.75 % Average expected stock option term (in years) 8.45 5.00
Summary of the status of restricted common stock and RSUs and changes	The following table summarizes RSU activity for the year ended December 31, 2018 (in actual amounts): Restricted Stock Units Number Of Weighted Average Grant Outstanding at January 1, 2017 800,843 $ 4.65 Granted 510,000 2.24 Vested 350,141 4.54 Forfeited 215,000 2.46 Outstanding at December 31, 2017 745,702 3.68 Outstanding at January 1, 2018 745,702 $ 3.68 Granted 6,473,484 3.75 Vested 1,278,626 2.50 Forfeited 120,000 1.42 Outstanding at December 31, 2018 5,820,560 $ 4.06

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Information
Summary of financial information concerning reportable segments	All prior period segment information has been recast to reflect the realignment of our segment reporting structure on a comparable basis. Year ended December 31, 2018 2017 (in thousands) Net sales: Kids $ 216,298 $ — Accessories 97,299 — Men's & Women's Apparel 283,005 164,053 $ 596,602 $ 164,053 Gross profit: Kids $ 33,530 $ — Accessories 10,246 — Men's & Women's Apparel 116,959 71,750 $ 160,735 $ 71,750 Selling, general and administrative Kids $ 20,482 $ — Accessories 10,954 — Men's & Women's Apparel 113,700 62,030 $ 145,136 $ 62,030 Depreciation & amortization Kids $ 5,018 $ — Accessories 5,772 — Men's & Women's Apparel 8,561 6,061 $ 19,351 $ 6,061 Other operating expense Kids $ 32,903 $ — Accessories 37,722 — Men's & Women's Apparel 17,182 2,583 $ 87,807 $ 2,583 Operating income (loss) Kids $ (24,872) $ — Accessories (44,202) — Men's & Women's Apparel (22,485) 1,076 $ (91,559) $ 1,076

Disaggregation of Revenue (Tabl

Disaggregation of Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Disaggregation of Revenue
Summary of disaggregation of our operating segment Net Sales by product category and sales channel	Year Ended December 31, 2018 Year ended December 31, 2017 Wholesale & Wholesale & Licensing Retail Total Licensing Retail Total Kids $ $ — $ 216,298 $ — $ — $ — Accessories — 97,299 — — — Men’s & Women’s Apparel 107,964 283,005 121,958 42,095 164,053 $ $ 107,964 $ 596,602 $ 121,958 $ 42,095 $ 164,053

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
Loss Per Share
Schedule of reconciliation of the numerator and denominator of basic and diluted loss per share	A reconciliation of the numerator and denominator of basic and diluted loss per share is as follows (in thousands, except per share data). December 31 2018 2017 Basic loss per share computation Numerator: Loss from continuing operations $ (123,766) $ (2,458) Less: preferred dividends (6,144) (5,480) Loss from continuing operations attributable to common stockholders (129,910) (7,938) Denominator: Weighted average common shares outstanding 21,569 13,313 Loss per common share - basic Loss from continuing operations $ (6.02) $ Loss per common share - basic $ (6.02) $ (0.60) Diluted loss per share computation Numerator: Loss from continuing operations $ (123,766) $ (2,458) Less: preferred dividends (6,144) (5,480) Loss from continuing operations attributable to common stockholders (129,910) (7,938) Denominator: Weighted average common shares outstanding 21,569 13,313 Effect of dilutive securities: Options, RSUs, PSUs, warrants, Series A, convertible notes — — Dilutive common shares 21,569 13,313 Loss per common share - diluted Loss from continuing operations $ (6.02) $ Loss per common share - diluted $ (6.02) $ (0.60)
Schedule of potential shares of common stock	The following potential shares of common stock were excluded from diluted EPS as the Company had a net loss as of the years ended (in thousands): December 31, 2018 December 31, 2017 Outstanding stock options 321 71 Unvested RSUs 5,821 746 Unvested PSUs 1,406 458 Outstanding warrants 650 650 Convertible Series A preferred stock — 4,480 Convertible Series A-1 preferred stock — — Modified Convertible Notes 1,278 1,247 SWIMS Convertible Note — 4,565 2024 Convertible Notes 3,125 —
Schedule of reconciliation of basic and diluted (loss) earnings per share, two class method	The following table provides a reconciliation of net loss to preferred shareholders and common stockholders for purposes of computing net loss per share for the years ended December 31, 2018 and 2017 (in thousands, except per share data): December 31, 2018 2017 Net loss $ (123,766) $ (2,458) Less: preferred dividends (6,144) (5,480) Net loss attributable to common stockholders $ (129,910) $ (7,938) Denominator: Weighted average common shares outstanding 21,569 13,313 Loss per common share - basic and diluted under two-class method $ (6.02) $ (0.60)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes
Schedule of loss before income taxes	For financial reporting purposes, loss before income taxes, includes the following components (in thousands): For the year ended December 31, 2018 December 31, 2017 Domestic $ (130,609) $ (7,352) Foreign 916 (437) Loss before income taxes $ (129,693) $ (7,789)
Schedule of benefit for income taxes	The benefit for income taxes is as follows (in thousands): For the year ended December 31, 2018 December 31, 2017 Current: Federal $ — $ (1,056) State 712 229 Foreign — 43 712 (784) Deferred: Federal (3,415) (4,425) State (1,100) (178) Foreign (2,124) 56 (6,639) (4,547) Total $ (5,927) $ (5,331)
Schedule of effective income tax rate reconciliation	Income tax benefit for the years ended December 31, 2018 and 2017, respectively, differ from the amounts computed by applying the U.S. statutory income tax rate of 21% (in 2018) and 34% (in 2017) to pretax loss as follows (in thousands): Year ended December 31, 2018 2017 U.S. Federal (benefit) provision At statutory rate $ (27,235) $ (2,649) State taxes (358) 34 Federal Valuation allowance 23,792 (8,431) Foreign tax adjustments (2,332) 81 Disallowed interest expense — 190 Federal tax rate change — 7,338 Permanent Adjustments 236 — Effect of uncertain tax positions (30) 10 Book income from pre-transaction period — (1,932) Other — 28 Total $ (5,927) $ (5,331)
Deferred tax assets and liabilities	Significant components of the Company’s deferred tax assets for federal and state income taxes are as follows (in thousands): As of December 31, 2018 2017 Deferred tax assets: Federal and state NOL carryforward $ 31,157 $ 9,889 Fixed assets 3 462 Accruals 27,946 682 Stock-based compensation 1,639 454 Inventory 667 835 Other intangibles 18,566 9,151 Allowance for customer credits and doubtful accounts — 843 Deferred rent — 985 Contribution carryforward 103 — Business interest limitation 9,844 — Deferred state income tax 309 231 Other 1,032 186 Total gross deferred tax assets 91,266 23,718 Less: valuation allowance (77,864) (19,975) Total deferred tax assets $ 13,402 $ 3,743 Deferred tax liabilities: Indefinite lived intangibles $ (10,696) $ (9,382) Fixed Assets (2,586) — Prepaids (120) (90) Debt discount — (921) Total gross deferred tax liabilities (13,402) (10,393) Net deferred tax liabilities $ — $ (6,650)
Schedule of roll forward of unrecognized tax benefits	The Company has the following activity relating to unrecognized tax benefits (in thousands): Year Ended December 31, 2018 2017 Beginning balance $ 119 $ 81 Gross increase - tax positions in prior periods — 38 Lapse in statutes of limitations (30) — Ending balance $ 89 $ 119

Business Description and Basi_2

Business Description and Basis of Presentation (Details)	12 Months Ended
	Dec. 31, 2018segment
Business Description and Basis of Presentation
Number of Reportable Segments	3

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Equity
Accumulated deficit	$ (141,186)		$ (18,196)
Wholesale
Equity
Accumulated deficit		$ (569)
Retail
Equity
Accumulated deficit		39
Licensing
Equity
Accumulated deficit		$ 1,300

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2018
Computer and equipment | Maximum
Property and Equipment
Property and equipment estimated useful live	P7Y
Computer and equipment | Minimum
Property and Equipment
Property and equipment estimated useful live	P3Y
Furniture and fixtures | Maximum
Property and Equipment
Property and equipment estimated useful live	P7Y
Furniture and fixtures | Minimum
Property and Equipment
Property and equipment estimated useful live	P3Y
Leasehold improvements | Maximum
Property and Equipment
Property and equipment estimated useful live	P10Y

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Impairment of Long Lived Assets and Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Impairment of Long Lived Assets, Intangible Assets and Goodwill
Asset impairment charge	$ 0	$ 0
Impairment charge related to intangible assets subject to amortization	0	0
Goodwill, Impairment Loss	0	0
impairment charge related to indefinite lived intangible assets	$ 0	$ 0

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Deferred Financing Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Deferred Financing Costs
Amortization of Financing Costs and Discounts	$ 4,334	$ 1,127

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Advertising Costs
Advertising Expense	$ 13.9	$ 9.5
Prepaid advertising costs	$ 5.3	$ 0.9

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Concentration of Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Concentration of Credit Risk
Sold Receivables Net	$ 33,825
Costs on Sale of Receivables	1,700	$ 0
Factoring Agreement
Concentration of Credit Risk
Total Accounts Receivable	$ 424,200	$ 0
Sales | Customer A
Concentration of Credit Risk
Concentration risk (as a percent)	14.00%	15.00%

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Accounting Standards Recently Adopted (Details) - ASU No. 2016-02 - Restatement $ in Millions	Jan. 01, 2019USD ($)
New Accounting Pronouncement, Early Adoption [Line Items]
Lease liabilities	$ 221
Right-of-use assets	$ 214

GBG Acquisition - Acquisition (

GBG Acquisition - Acquisition (Details) $ in Millions	Oct. 29, 2018USD ($)
First Lien Credit Agreement
Business Acquisition
Face value	$ 645
New Revolving Facility
Business Acquisition
Face value	150
Second Lien Credit Agreement
Business Acquisition
Face value	$ 668

GBG Acquisition - Allocation an

GBG Acquisition - Allocation and Proforma (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Oct. 29, 2018	Dec. 31, 2016
Intangible assets and liabilities acquired:
Goodwill	$ 376,132	$ 8,380		$ 8,271
GBG and its subsidiaries
Business Acquisition
Inventory adjustment to fair value	32,400
Assets acquired and liabilities assumed:
Accounts receivable			$ 65,106
Inventories			371,605
Prepaid expenses and other current assets			56,380
Property and equipment			86,971
Other assets			41
Accounts payable and accrued expenses			(589,849)
Intangible assets and liabilities acquired:
Preliminary purchase price			1,179,669
Unaudited pro forma results
Net sales	2,302,195	2,244,604
Cost of goods sold	1,785,871	1,691,199
Gross margin	$ 516,324	$ 553,405
Gross margin % of net sales	22.40%	24.70%
Operating expenses
Selling, general and administrative	$ 569,726	$ 423,392
Depreciation and amortization	90,241	92,554
Total operating expenses	659,967	515,946
Operating (loss) income	(143,643)	37,459
Interest expense	156,329	152,082
Gain on contingent consideration	(17,675)	(18,687)
Loss before income taxes	(282,297)	(95,936)
Income tax benefit	5,927	5,331
Net loss	$ (276,370)	$ (90,605)
Loss per common share - basic (in dollars per share)	$ (4.75)	$ (1.58)
Loss per common share - diluted (in dollars per share)	$ (4.75)	$ (1.58)
Weighted average shares outstanding basic and diluted (in shares)	58,143	57,516
Cost of goods sold | GBG and its subsidiaries
Business Acquisition
Inventory adjustment to fair value	$ 23,600
Selling, general and administrative expenses | GBG and its subsidiaries
Business Acquisition
Amortization expense	$ 39,800
Goodwill | GBG and its subsidiaries
Intangible assets and liabilities acquired:
Goodwill			367,725
Leasehold interests | GBG and its subsidiaries
Intangible assets and liabilities acquired:
Leasehold interests			(2,310)
Customer relationships | GBG and its subsidiaries
Intangible assets and liabilities acquired:
Customer relationships			$ 824,000

Factored Accounts and Receiva_3

Factored Accounts and Receivables - New Receivables Facility (Details) - USD ($) $ in Millions	Oct. 29, 2018	Oct. 31, 2018
Accounts receivable, inventory advances and due from factor
Trade Receivables Securitization Facility Term	3 years
Maximum sale of undivided ownership interest	$ 450
New Receivables Facility
Accounts receivable, inventory advances and due from factor
Trade Receivables Securitization Facility Term		3 years
Maximum sale of undivided ownership interest		$ 450

Factored Accounts and Receiva_4

Factored Accounts and Receivables - CIT Factoring Agreement (Details) - CIT Factoring Agreement	12 Months Ended
	Dec. 31, 2018
Accounts receivable, inventory advances and due from factor
Required notice period for termination of the agreement by factor	60 days
Required written notice period for termination of the agreement prior to October 29, 2023	60 days

Factored Accounts and Receiva_5

Factored Accounts and Receivables - SWIMS Factoring Agreement (Details) $ in Thousands, kr in Millions	12 Months Ended
	Dec. 31, 2018NOK (kr)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Accounts receivable, inventory advances and due from factor
Non-recourse receivables sold		$ 380,595
Recourse receivables sold		43,630
Total receivables sold		424,225
Purchase price of sold receivables		(364,900)
Allowances and bad debt		(25,500)
Sold receivables, net		33,825
Accounts receivable			$ 27,013
Allowance and bad debt			(4,767)
Accounts receivable, net		27,910	$ 22,246
Total accounts receivable, net		$ 27,910
Factoring Agreement | DNB Bank
Accounts receivable, inventory advances and due from factor
Required notice period for termination of the agreement by factor	14 days
DFBG Swims | Factoring Agreement | DNB Bank
Accounts receivable, inventory advances and due from factor
Required notice period for termination of the agreement by factor	14 days
DFBG Swims | Factoring Agreement | DNB Bank | Maximum
Accounts receivable, inventory advances and due from factor
Financing Percentage on preapproved outstanding invoiced receivables	80.00%	80.00%
DFBG Swims | Factoring Agreement | DNB Bank | Machinery and Plant Lien
Accounts receivable, inventory advances and due from factor
Collateral amount | kr	kr 10
DFBG Swims | Factoring Agreement | DNB Bank | Machinery and Plant Lien | Maximum
Accounts receivable, inventory advances and due from factor
Collateral amount | kr	10
DFBG Swims | Factoring Agreement | DNB Bank | Inventory Lien | Maximum
Accounts receivable, inventory advances and due from factor
Collateral amount | kr	10
DFBG Swims | Factoring Agreement | DNB Bank | Factoring, First Lien
Accounts receivable, inventory advances and due from factor
Collateral amount | kr	1
DFBG Swims | Factoring Agreement | DNB Bank | Factoring, Second Lien
Accounts receivable, inventory advances and due from factor
Collateral amount | kr	4
DFBG Swims | Factoring Agreement | DNB Bank | Factoring, Third Lien
Accounts receivable, inventory advances and due from factor
Collateral amount | kr	7
DFBG Swims | Factoring Agreement | DNB Bank | Factoring, Fourth Lien
Accounts receivable, inventory advances and due from factor
Collateral amount | kr	kr 2.5

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventories
Finished goods	$ 315,484	$ 31,245
Raw materials and work in progress	27,468	488
Total inventories	$ 342,952	$ 31,733

Prepaid expenses and other cu_3

Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Prepaid expenses and other current assets
Prepaid expenses	$ 21,547	$ 4,740
Prepaid royalty	12,645
Non-trade receivable	8,935
Prepaid marketing and advertising	5,251	92
Prepaid expenses and other current assets	$ 48,378	$ 4,832

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property and equipment
Gross property and equipment	$ 102,035	$ 21,761
Less: accumulated depreciation and amortization	(17,885)	(13,639)
Construction in progress	8,894	295
Property and equipment, net	93,044	8,417
Depreciation and amortization expenses related to Property and Equipment	3,500	3,100
Computer and equipment
Property and equipment
Gross property and equipment	9,638	6,214
Furniture and fixtures
Property and equipment
Gross property and equipment	14,580	6,245
Leasehold improvements
Property and equipment
Gross property and equipment	$ 77,817	$ 9,302

Intangible Assets and Liabili_3

Intangible Assets and Liabilities Goodwill - Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Intangible assets
Intangible assets, Gross Amount	$ 925,123	$ 101,026
Finite-lived intangible assets, Accumulated Amortization	27,653	11,694
Finite-Lived Intangible Assets, Net	831,583
Intangible assets, Net Amount	897,470	89,332
Amortization expense related to the intangible assets	15,800	3,000
Trade names
Intangible assets
Indefinite-lived intangible assets, Amount	65,887	65,812
Customer relationships
Intangible assets
Finite-lived intangible assets, Gross Amount	859,101	35,081
Finite-lived intangible assets, Accumulated Amortization	27,543	11,629
Finite-Lived Intangible Assets, Net	831,558	$ 23,452
Non-compete agreements
Intangible assets
Amortization period		3 years
Finite-lived intangible assets, Gross Amount	135	$ 133
Finite-lived intangible assets, Accumulated Amortization	110	65
Finite-Lived Intangible Assets, Net	$ 25	$ 68
Minimum | Customer relationships
Intangible assets
Amortization period	7 years	7 years
Maximum | Customer relationships
Intangible assets
Amortization period	20 years	15 years

Intangible Assets and Liabili_4

Intangible Assets and Liabilities Goodwill - Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2018USD ($)
Future amortization expense related to finite-lived intangibles
2019	$ 77,911
2020	77,889
2021	77,887
2022	77,887
2023	77,887
Thereafter	442,122
Total	$ 831,583

Intangible Assets and Liabili_5

Intangible Assets and Liabilities Goodwill - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill
Goodwill, Beginning Balance	$ 8,380	$ 8,271
Other	27	109
Goodwill, Ending Balance	376,132	8,380
Impairment charge	0	$ 0
GBG and its subsidiaries
Goodwill
Goodwill created	$ 367,725

Other assets (Details)

Other assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other assets
Deferred debt financing fees	$ 8,901
Other receivables and deposits long term	824	$ 484
Total other assets	$ 9,725	$ 484

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Expenses
Accounts payable	$ 290,104	$ 7,384
Accrued expenses	128,990	5,922
Accrued royalty	56,595
Accrued payroll and other benefits	20,814	2,236
Accrued interest	22,128	1,768
Other	7,232	4,894
Total	$ 525,863	$ 22,204

Commitments and Contingencies -

Commitments and Contingencies - Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Future Lease Obligations
2019	$ 44,295
2020	39,771
2021	37,722
2022	35,554
2023	31,110
Thereafter	125,863
Future minimum rental payments under non-cancelable operating leases	314,315
Rent expense	14,200	$ 9,400
Future minimum rental payments under non-cancelable capital leases
2019	3,522
2020	1,033
2021	654
2022	165
Future minimum rental payments under non-cancelable capital leases	5,374
2019	2,500
2020	2,100
Advertising Expense	13,900	9,500
Letters of Credit
Outstanding letters of credit	15,900	$ 130
License Agreements
Future minimum rental payments under non-cancelable capital leases
2019	121,843
2020	98,597
2021	78,061
2022	36,567
2023	30,396
Thereafter	119,655
Total	485,119
Royalty Expense	34,500
Advertising Expense	$ 4,100

Debt (Details)

Debt (Details) $ / shares in Units, $ in Thousands	Oct. 29, 2018USD ($)$ / sharesshares	Jan. 18, 2018USD ($)$ / sharesshares	Jan. 28, 2016USD ($)D	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / shares	Apr. 17, 2019USD ($)	Apr. 16, 2019USD ($)	Oct. 01, 2016	Jan. 18, 2016USD ($)
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
2019				$ 11,602
2020				32,250
2021				50,229
2022				32,250
2023				536,963
Thereafter				696,513
Total				1,359,807
Deferred Financing Costs, Net				(51,456)
Original Issue Premium, Net				(65,217)
Carrying Value				1,243,134
Initial prepayment amount	$ 46,400
Deferred financing costs, accrued	2,400
Securitization Closing Fees	1,600
Legal Fees	470
Other fees	$ 350
Long-term Debt, Gross				$ 1,359,807
Receivables facility period (in years)	3 years
Maximum sale of undivided ownership interest	$ 450,000
Preferred Stock, par value (in dollars per share) | $ / shares				$ 0.10	$ 0.10
Common stock, par value (in dollars per share) | $ / shares				$ 0.10	$ 0.10
Recorded value of the convertible note
Total				$ 1,359,807
Modified Convertible Notes value				$ 36,235	$ 13,866
Tengram Capital Partners, LP
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
New shares issued upon conversion | shares	4,951,177
Global Brands Group Holding Limited (“GBG”)
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Aggregate principal amount	$ 23,100
Cash payment	$ 80
Preferred Series A
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
New shares issued upon conversion | shares	5,852,142
Shares converted from issuance | shares	50,000			50,000
Series A-1 preferred stock
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
New shares issued upon conversion | shares	4,951,177	4,587,964
Shares converted from issuance | shares	4,587,964
Private placement
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Shares issued (in shares) | shares	10,000,000
First Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				3.00%
Second Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				2.00%
Third Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				1.00%
New Revolving Facility
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Carrying Value				$ 150,000
Aggregate principal amount	$ 150,000
Debt Issuance Cost				$ 6,800
Recorded value of the convertible note
Face value	150,000
New Revolving Facility | Base Rate
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Floor rate (in percent)				1.00%
Margin on variable rate basis (as a percent)				4.50%
New Revolving Facility | LIBOR rate loans
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Floor rate (in percent)				0.00%
Margin on variable rate basis (as a percent)				5.50%
New Revolving Facility | First Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				3.00%
New Revolving Facility | Second Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				2.00%
New Revolving Facility | Third Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				1.00%
First Lien Credit Agreement
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Carrying Value				$ 645,000
Step one first lien leverage ratio				2.75
Step two first lien leverage ratio				2.25
Percent of step downs				0.25%
Number of step downs				2
Recorded value of the convertible note
Face value	645,000
First Lien Credit Agreement | Subsequent Events
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Aggregate principal amount						$ 200,000	$ 150,000
First Lien Credit Agreement | Base Rate
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Floor rate (in percent)				2.50%
Margin on variable rate basis (as a percent)				5.00%
First Lien Credit Agreement | LIBOR rate loans
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Floor rate (in percent)				1.50%
Margin on variable rate basis (as a percent)				6.00%
First Lien Credit Agreement | Fiscal Quarters Ending March 31, 2019 and June 30, 2019
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Percentage Of Principal Payments				0.25%
First Lien Credit Agreement | Fiscal Quarters Ending September 30, 2019 and December 31, 2019
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Percentage Of Principal Payments				0.625%
First Lien Credit Agreement | Fiscal Quarter Thereafter
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Percentage Of Principal Payments				1.25%
Second Lien Credit Agreement
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Initial prepayment amount				$ 175,000
Recorded value of the convertible note
Face value	668,000
Second Lien Credit Agreement | Subsequent Events
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Borrowings						$ 845,000	$ 795,000
Second Lien Credit Agreement | First Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				3.00%
Second Lien Credit Agreement | Second Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				2.00%
Second Lien Credit Agreement | Third Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prepayment premium (in percent)				1.00%
Percent of debt excess of initial prepayment amount				4.00%
Second Lien Credit Agreement | Fourth Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Percent of debt excess of initial prepayment amount				2.00%
Second Lien Credit Agreement | Fifth Year After The Closing Date
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Percent of debt excess of initial prepayment amount				1.00%
Second Lien Credit Agreement | Closing Date until December 31, 2019
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Percent of Payment-in-kind interest (PIK)				2.75%
Second Lien Credit Agreement | Closing Date until December 31, 2019 | Base Rate
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Floor rate (in percent)				2.50%
Margin on variable rate basis (as a percent)				6.00%
Second Lien Credit Agreement | Closing Date until December 31, 2019 | LIBOR rate loans
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Floor rate (in percent)				1.50%
Margin on variable rate basis (as a percent)				7.00%
Second Lien Credit Agreement | Thereafter December 31, 2019
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Percent of Payment-in-kind interest (PIK)				1.25%
Second Lien Credit Agreement | Thereafter December 31, 2019 | Base Rate
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Floor rate (in percent)				2.50%
Margin on variable rate basis (as a percent)				7.00%
Second Lien Credit Agreement | Thereafter December 31, 2019 | LIBOR rate loans
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Floor rate (in percent)				1.50%
Margin on variable rate basis (as a percent)				8.00%
Revolving Facility
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
2019				$ 315
Total				315
Carrying Value				315
Availability				150,000
Long-term Debt, Gross				315
Recorded value of the convertible note
Total				315
Term Loan Credit Agreement
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
2019				11,287
2020				32,250
2021				32,250
2022				32,250
2023				536,963
Total				645,000
Deferred Financing Costs, Net				(29,438)
Original Issue Discount, Net				11,437
Carrying Value				626,999
Long-term Debt, Gross				645,000
Recorded value of the convertible note
Less: Original issue discount				(11,437)
Total				645,000
Long-term Debt
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Thereafter				671,513
Total				671,513
Deferred Financing Costs, Net				(20,663)
Original Issue Premium, Net				(71,265)
Carrying Value				579,585
Long-term Debt, Gross				671,513
Recorded value of the convertible note
Total				671,513
Convertible notes
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
2021				17,979
Thereafter				25,000
Total				42,979
Deferred Financing Costs, Net				(1,355)
Original Issue Premium, Net				(5,389)
Carrying Value				36,235
Long-term Debt, Gross				42,979
Recorded value of the convertible note
Total				42,979
Term Facility
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Total	46,400
Carrying Value	2,600			668,000
Aggregate principal amount			$ 50,000
Floor rate (in percent)			0.50%
Long-term Debt, Gross	46,400
Recorded value of the convertible note
Total	$ 46,400
Term Facility | Base Rate | Minimum
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Margin on variable rate basis (as a percent)			6.00%
Term Facility | Base Rate | Maximum
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Margin on variable rate basis (as a percent)			9.75%
Term Facility | LIBOR rate loans | Minimum
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Margin on variable rate basis (as a percent)			7.00%
Term Facility | LIBOR rate loans | Maximum
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Margin on variable rate basis (as a percent)			10.75%
Credit Facilities
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Commitment fee (as a percent)			0.25%
Debt Issuance Cost				51,500
Credit Facilities | Base Rate
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Margin on variable rate basis (as a percent)			0.50%
Credit Facilities | LIBOR rate loans
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Margin on variable rate basis (as a percent)			1.75%
Modified Convertible Notes
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Total				11,800	11,800
Original Issue Discount, Net				4,673	4,673
Amount of interest payable in cash (as a percent)			50.00%
Amount of interest payable in kind (as a percent)			50.00%
Amount of interest payable in cash, discretionary (as a percent)			100.00%
Long-term Debt, Gross				11,800	11,800
Recorded value of the convertible note
Face value				16,473	16,473				$ 16,500
Less: Original issue discount				(4,673)	(4,673)
Total				11,800	11,800
PIK interest issued				1,505	925
Accumulated accretion of original issue debt discount				1,918	1,141
Modified Convertible Notes value				15,223	$ 13,866
Modified Convertible Notes | Conversion of Convertible Notes into Common Stock
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Annual rate on outstanding principal amount (as a percent)			6.50%					7.00%
Trading days immediately preceding the notice of conversion used for calculation of average of the closing prices for the common stock | D			20
Convertible Notes Due January 2018 | Tengram Capital Partners, LP
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Annual rate on outstanding principal amount (as a percent)									3.75%
Convertible Notes Due January 2018 | Series A-1 preferred stock | Tengram Capital Partners, LP
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Dividend rate (as a percent)		10.00%
Number of shares issuable upon conversion of the debt | shares		4,587,964
Conversion price (in dollars per share) | $ / shares		$ 3
Preferred Stock, par value (in dollars per share) | $ / shares		$ 0.10
Recorded value of the convertible note
Face value		$ 13,000
2024 Convertible Notes
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Total				20,478
Original Issue Discount, Net				4,522
Prior written notice (in days)	10 days
Conversion price (in dollars per share) | $ / shares	$ 8
Long-term Debt, Gross				20,478
Recorded value of the convertible note
Face value	$ 25,000			25,000
Less: Original issue discount				(4,522)
Total				20,478
Accumulated accretion of original issue debt discount				534
Modified Convertible Notes value				$ 21,012
2024 Convertible Notes | From and after April 29, 2019 To October 29, 2019
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prior written notice (in days)	10 days
Interest rate (in percent)	12.00%
2024 Convertible Notes | From and after October 29, 2019
Four year payment schedule of debt for convertible notes, line of credit and ling-term debt
Prior written notice (in days)	10 days
Interest rate (in percent)	16.00%

Debt - Overdraft and Factoring

Debt - Overdraft and Factoring Agreement (Details) kr in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018NOK (kr)	Dec. 31, 2018USD ($)
Factoring Agreement | DNB Bank
Line of Credit Facility [Line Items]
Required notice period for termination of the agreement by factor	14 days
DFBG Swims | Overdraft Agreement | DNB Bank | Maximum
Line of Credit Facility [Line Items]
Maximum borrowing capacity	kr 6	$ 0.7
DFBG Swims | Overdraft Agreement | Factoring, Second Lien | DNB Bank
Line of Credit Facility [Line Items]
Collateral amount	kr 0.4
DFBG Swims | Ordinary Credit
Line of Credit Facility [Line Items]
Number of days notice required for termination of agreement	14 days
DFBG Swims | Ordinary Credit | DNB Bank
Line of Credit Facility [Line Items]
Maximum borrowing capacity	kr 3.5
Annual rate on outstanding principal amount (as a percent)	7.40%	7.40%
Quarterly fee percent	0.40%	0.40%
DFBG Swims | Additional Credit | DNB Bank
Line of Credit Facility [Line Items]
Maximum borrowing capacity | $		$ 2.5
Annual rate on outstanding principal amount (as a percent)	4.90%	4.90%
Quarterly fee percent	0.50%	0.50%
DFBG Swims | Factoring Agreement | DNB Bank
Line of Credit Facility [Line Items]
Required notice period for termination of the agreement by factor	14 days
DFBG Swims | Factoring Agreement | DNB Bank | Maximum
Line of Credit Facility [Line Items]
Financing Percentage on preapproved outstanding invoiced receivables	80.00%	80.00%
DFBG Swims | Factoring Agreement | Machinery and Plant Lien | DNB Bank
Line of Credit Facility [Line Items]
Collateral amount	kr 10
DFBG Swims | Factoring Agreement | Machinery and Plant Lien | DNB Bank | Maximum
Line of Credit Facility [Line Items]
Collateral amount	10
DFBG Swims | Factoring Agreement | Inventory Lien | DNB Bank | Maximum
Line of Credit Facility [Line Items]
Collateral amount	10
DFBG Swims | Factoring Agreement | Factoring, First Lien | DNB Bank
Line of Credit Facility [Line Items]
Collateral amount	1
DFBG Swims | Factoring Agreement | Factoring, Second Lien | DNB Bank
Line of Credit Facility [Line Items]
Collateral amount	4
DFBG Swims | Factoring Agreement | Factoring, Third Lien | DNB Bank
Line of Credit Facility [Line Items]
Collateral amount	7
DFBG Swims | Factoring Agreement | Factoring, Fourth Lien | DNB Bank
Line of Credit Facility [Line Items]
Collateral amount	kr 2.5

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Components of interest expense
Contractual coupon interest	$ 29,176	$ 7,716
Non-cash interest expense (including amortization of discounts and deferred financing costs)	9,151	1,128
Total interest expense	$ 38,327	$ 8,844

Fair Value Measurement of Fin_2

Fair Value Measurement of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair value disclosures
Carrying amount	$ 102,035	$ 21,761
Convertible notes	36,235	13,866
Nonrecurring | Level 3
Fair value disclosures
Carrying amount	0	$ 200
Convertible notes	$ 36,200

Equity - Incentive Plan (Detail

Equity - Incentive Plan (Details) - $ / shares	Oct. 29, 2018	Dec. 31, 2018	Dec. 31, 2017	Nov. 07, 2016
Stock Incentive Plans and Plan Amendment
Granted (in shares)		250,000
Common stock, par value (in dollars per share)		$ 0.10	$ 0.10
RSUs | Officer
Stock Incentive Plans and Plan Amendment
Number of shares of common stock authorized for issuance		5,200,000
2016 Plan
Stock Incentive Plans and Plan Amendment
Number of shares reserved for future issuance				3,529,109
Granted (in shares)		250,000
Maximum number of shares that can be awarded to any employee in one year	500,000
Shares Reserved For Future Issuance
Stock options granted under the incentive plans reserved for future issuance (in shares)		8,435,562
Shares of common stock issuable	12,725,963
2016 Plan | RSUs
Shares Reserved For Future Issuance
Shares of common stock issuable		2,364,393
Management Incentive Plan
Stock Incentive Plans and Plan Amendment
Number of shares of common stock authorized for issuance	1,776,500
Amended And Restated Plan
Shares Reserved For Future Issuance
Number of shares available for issuance		444

Equity - Plan Activity (Details

Equity - Plan Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Options Outstanding and Exercisable
Exercise Price (in dollars per share)	$ 4.07	$ 4.07
Number of shares	70,721
Stock option activity
Outstanding at the beginning of the period (in shares)	70,721	150,444
Granted (in shares)	250,000
Exercised (in shares)	0	0
Forfeited / Expired (in shares)		(79,723)
Outstanding at the end of the year (in shares)	320,721	70,721
Exercisable at the end of the period (in shares)	70,721
Weighted average exercise price
Granted (in dollars per share)	$ 4.22
Outstanding at the end of the period (in dollars per share)	4.19
Exercisable at the end of the period (in dollars per share)	$ 4.07	$ 4.07
Additional Disclosures
Outstanding at the end of the period, Weighted Average Remaining Contractual Life (Years)	8 years 5 months 12 days	4 years 6 months 18 days
Granted, Weighted Average Remaining Contractual Life (Years)	2 years 9 months 22 days
Exercisable at the end of the period, Weighted Average Remaining Contractual Life (Years)	3 years 6 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Stock Price on Grant Date	$ 4.22	$ 1.85
Expected Dividend Rate	0.00%	0.00%
Expected Volatility	60.00%	60.00%
Exercise Price	$ 4.22	$ 4.02
Risk Free Rate	3.08%	1.75%
Average expected stock option term (in years)	8 years 5 months 12 days	5 years
Expected annual dividend	0.00%	0.00%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Total unrecognized compensation cost	$ 0
Amended And Restated Plan
Stock option activity
Outstanding at the beginning of the period (in shares)	444	444
Outstanding at the end of the year (in shares)	444	444
2016 Plan
Stock option activity
Outstanding at the beginning of the period (in shares)	70,277	150,000
Granted (in shares)	250,000
Forfeited / Expired (in shares)		(79,723)
Outstanding at the end of the year (in shares)	320,277	70,277
4.02
Options Outstanding and Exercisable
Exercise Price (in dollars per share)	$ 4.02
Number of shares	70,277
Weighted-Average Remaining Contractual Life (Years)	5 years 4 months 24 days
Weighted average exercise price
Exercisable at the end of the period (in dollars per share)	$ 4.02
11.40
Options Outstanding and Exercisable
Exercise Price (in dollars per share)	$ 11.40
Number of shares	444
Weighted-Average Remaining Contractual Life (Years)	6 years
Weighted average exercise price
Exercisable at the end of the period (in dollars per share)	$ 11.40

Equity - Restricted Stock Units

Equity - Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
RSUs
Restricted Stock Units
Outstanding at the beginning of the period (in shares)	745,702	800,843
Granted (in shares)	6,473,484	510,000
Vested (in shares)	1,278,626	350,141
Forfeited (in shares)	120,000	215,000
Outstanding at the end of the period (in shares)	5,820,560	745,702
Weighted-Average Grant-Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 3.68	$ 4.65
Granted (in dollars per share)	3.75	2.24
Vested (in dollars per share)	2.50	4.54
Forfeited (in dollars per share)	1.42	2.46
Outstanding at the end of the period (in dollars per share)	$ 4.06	$ 3.68
Unrecognized compensation cost
Weighted-average period for recognition of unrecognized compensation cost	2 years 9 months 18 days
Stock based compensation expense recognized	$ 3,800	$ 2,300
Total unrecognized compensation	$ 21,800
PSUs
Restricted Stock Units
Granted (in shares)	1,405,556	0
Vested (in shares)		0
Unrecognized compensation cost
Vesting period (in years)	3 years
Stock based compensation expense recognized	$ 633
PSUs | Michael Buckley, former CEO
Restricted Stock Units
Granted (in shares)	308,122
Vested (in shares)	1,405,556
Forfeited (in shares)	150,000

Equity - Preferred Stock (Detai

Equity - Preferred Stock (Details) $ / shares in Units, $ in Millions	Oct. 29, 2018shares	Jan. 18, 2018USD ($)$ / sharesshares	Jan. 28, 2016USD ($)item$ / sharesshares	Dec. 31, 2018$ / sharesshares	Dec. 31, 2017$ / shares
Preferred Stock, par value (in dollars per share) | $ / shares				$ 0.10	$ 0.10
Common stock, par value (in dollars per share) | $ / shares				0.10	$ 0.10
Preferred Series A
Conversion price | $ / shares				$ 11.16
Shares converted from issuance	50,000			50,000
New shares issued upon conversion	5,852,142
Series A-1 preferred stock
Shares converted from issuance	4,587,964
New shares issued upon conversion	4,951,177	4,587,964
TCP Denim, LLC | Preferred Series A
Shares issued (in shares)			50,000
Aggregate amount | $			$ 50
Dividend rate (as a percent)			10.00%
Number of Board of Directors that the preferred stockholders can elect | item			3
Preferred Stock, par value (in dollars per share) | $ / shares			$ 0.10
Tengram Capital Partners, LP
New shares issued upon conversion	4,951,177
Convertible Notes Due January 2018 | Tengram Capital Partners, LP | Series A-1 preferred stock
Convertible notes face value | $		$ 13
Dividend rate (as a percent)		10.00%
Conversion price (in dollars per share) | $ / shares		$ 3
Number of shares issuable upon conversion of the debt		4,587,964
Conversion ratio		1
Preferred Stock, par value (in dollars per share) | $ / shares		$ 0.10

Equity - Warrants (Details)

Equity - Warrants (Details) - SWIMS - USD ($) $ / shares in Units, $ in Thousands	Jul. 18, 2016	Dec. 31, 2018
Class of Warrant or Right [Line Items]
Shares of common stock		500,000
Exercise price (in dollars per share)		$ 3
Warrants
Class of Warrant or Right [Line Items]
Shares of common stock	150,000,000
Fair value of warrants issued	$ 45
Exercise price (in dollars per share)	$ 5.47
Fair value assumptions
Time to maturity (in years)	3 years
Volatility rate (as a percent)	45.00%
Dividend rate	0.00%
Risk-free interest rate (as a percent)	0.85%
Discount rate	10.00%
Restriction period	6 months
Warrants | Tengram Capital Partners, LP
Class of Warrant or Right [Line Items]
Shares of common stock	500,000,000
Fair value of warrants issued	$ 465
Exercise price (in dollars per share)	$ 3
Fair value assumptions
Time to maturity (in years)	5 years
Volatility rate (as a percent)	50.00%
Dividend rate	0.00%
Risk-free interest rate (as a percent)	1.14%
Discount rate	20.00%
Restriction period	6 months

Equity - Private Placement (Det

Equity - Private Placement (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 29, 2018	Dec. 31, 2018	Dec. 31, 2017
The Private Placement
Share price (in dollars per share)		$ 4.22	$ 1.85
Consideration in private placement		$ 143,651
Private placement
The Private Placement
Shares issued (in shares)	10,000,000
Share price (in dollars per share)	$ 8
Consideration in private placement	$ 80,000
Private Placement For Affiliates Entering In to Second Lien Term Facility
The Private Placement
Shares issued (in shares)	23,094,501
Consideration in private placement	$ 0

Segment Information (Details)

Segment Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)
Segment information
Number of reportable business segments | segment	3
Net sales	$ 596,602	$ 164,053
Gross profit	160,735	71,750
Selling, general and administrative	145,136	62,030
Depreciation and amortization	19,351	6,061
Other operating expense, net	87,807	2,583
Operating income (loss)	(91,559)	1,076
Men’s & Women’s Apparel
Segment information
Net sales	283,005	164,053
Gross profit	116,959	71,750
Selling, general and administrative	145,136	62,030
Depreciation and amortization	8,561	6,061
Other operating expense, net	17,182	2,583
Operating income (loss)	(22,485)	1,076
Kids
Segment information
Net sales	216,298
Gross profit	33,530
Selling, general and administrative	20,482
Depreciation and amortization	5,018
Other operating expense, net	32,903
Operating income (loss)	(24,872)
Accessories
Segment information
Net sales	97,299
Gross profit	10,246
Selling, general and administrative	10,954
Depreciation and amortization	5,772
Other operating expense, net	37,722
Operating income (loss)	(44,202)
Accessories | Men’s & Women’s Apparel
Segment information
Selling, general and administrative	$ 113,700	$ 62,030

Disaggregation of Revenue (Deta

Disaggregation of Revenue (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments | segment	3
Net sales	$ 596,602	$ 164,053
International
Disaggregation of Revenue [Line Items]
Net sales	29,800	15,700
Kids
Disaggregation of Revenue [Line Items]
Net sales	216,298
Accessories
Disaggregation of Revenue [Line Items]
Net sales	97,299
Men's & Women's Apparel
Disaggregation of Revenue [Line Items]
Net sales	283,005	164,053
Wholesale and licensing
Disaggregation of Revenue [Line Items]
Net sales	488,638	121,958
Wholesale and licensing | Kids
Disaggregation of Revenue [Line Items]
Net sales	216,298
Wholesale and licensing | Accessories
Disaggregation of Revenue [Line Items]
Net sales	97,299
Wholesale and licensing | Men's & Women's Apparel
Disaggregation of Revenue [Line Items]
Net sales	175,041	121,958
Retail
Disaggregation of Revenue [Line Items]
Net sales	107,964	42,095
Retail | Men's & Women's Apparel
Disaggregation of Revenue [Line Items]
Net sales	$ 107,964	$ 42,095

Loss Per Share (Details)

Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Loss from continuing operations	$ (123,766)	$ (2,458)
Less: preferred dividends	(6,144)	(5,480)
Loss from continuing operations attributable to common stockholders	$ (129,910)	$ (7,938)
Denominator:
Weighted average common shares outstanding (in shares)	21,569	13,313
Loss from continuing operations (in dollars per share)	$ (6.02)	$ (0.60)
Loss per common share - basic (in dollars per share)	$ (6.02)	$ (0.60)
Numerator:
Loss from continuing operations	$ (123,766)	$ (2,458)
Less: preferred dividends	(6,144)	(5,480)
Loss from continuing operations attributable to common stockholders	$ (129,910)	$ (7,938)
Denominator:
Weighted average common shares outstanding (in shares)	21,569	13,313
Dilutive common shares	21,569	13,313
Loss from continuing operations (in dollars per share)	$ (6.02)	$ (0.60)
Loss per common share - diluted (in dollars per share)	$ (6.02)	$ (0.60)
Modified Convertible Notes
Denominator:
Anti-dilutive securities excluded from computation of earnings per share (in shares)	1,278	1,247
Convertible Notes Due January 2018
Denominator:
Anti-dilutive securities excluded from computation of earnings per share (in shares)		4,565
2024 Convertible Notes
Denominator:
Anti-dilutive securities excluded from computation of earnings per share (in shares)	3,125
Preferred Series A
Denominator:
Anti-dilutive securities excluded from computation of earnings per share (in shares)		4,480
Warrants
Denominator:
Anti-dilutive securities excluded from computation of earnings per share (in shares)	650	650
Stock options
Denominator:
Anti-dilutive securities excluded from computation of earnings per share (in shares)	321	71
RSUs
Denominator:
Anti-dilutive securities excluded from computation of earnings per share (in shares)	5,821	746
PSUs
Denominator:
Anti-dilutive securities excluded from computation of earnings per share (in shares)	1,406	458

Loss Per Share - Two Class Meth

Loss Per Share - Two Class Method (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Loss Per Share
Net loss	$ (123,766)	$ (2,458)
Less: preferred dividends	(6,144)	(5,480)
Net loss attributable to common stockholders	$ (129,910)	$ (7,938)
Denominator:
Weighted average common shares outstanding (in shares)	21,569	13,313
Loss per common share - basic and diluted under two-class method (in dollars per share)	$ (6.02)	$ (0.60)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Continuing operations before income taxes
Domestic	$ (130,609)	$ (7,352)
Foreign	916	(437)
Loss before income taxes	(129,693)	(7,789)
Current:
Federal		(1,056)
State	712	229
Foreign		43
Total current	712	(784)
Deferred:
Federal	(3,415)	(4,425)
State	(1,100)	(178)
Foreign	(2,124)	56
Deferred income taxes	(6,639)	(4,547)
Total	$ (5,927)	$ (5,331)

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Statutory income tax rate (as a percent)	21.00%	34.00%
U.S. Federal (benefit) provision
At statutory rate	$ (27,235)	$ (2,649)
State taxes	(358)	34
Federal Valuation allowance	23,792	(8,431)
Foreign tax adjustments	(2,332)	81
Disallowed interest expense		190
Federal tax rate change		7,338
Permanent Adjustments	236
Effect of uncertain tax positions	(30)	10
Book income from pre-transaction period		(1,932)
Other		28
Total	$ (5,927)	$ (5,331)
Effective tax rate from continuing operations (as a percent)	4.60%
Benefit due to the impact of the Tax Act (as a percent)		68.40%

Income Taxes - Tax Cuts and Job

Income Taxes - Tax Cuts and Jobs Act (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Period of payment (in years)		8 years
Statutory income tax rate (as a percent)	21.00%	34.00%
Provision tax benefit adjusted	$ 6.3
CFC, Net tested income	0.8
Global Intangible Low-Taxed Income	$ 0.8

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Federal and state NOL carryforward	$ 31,157	$ 9,889
Fixed assets	3	462
Accruals	27,946	682
Stock-based compensation	1,639	454
Inventory	667	835
Other intangibles	18,566	9,151
Allowance for customer credits and doubtful accounts		843
Deferred rent		985
Contribution carryforward	103
Business interest limitation	9,844
Deferred state income tax	309	231
Other	1,032	186
Total gross deferred tax assets	91,266	23,718
Less: valuation allowance	(77,864)	(19,975)
Total deferred tax assets	13,402	3,743
Deferred tax liabilities:
Indefinite lived intangibles	(10,696)	(9,382)
Fixed Assets	(2,586)
Prepaids	(120)	(90)
Debt discount		(921)
Total gross deferred tax liabilities	(13,402)	(10,393)
Net deferred tax liabilities		$ (6,650)
Increase in valuation allowance	$ (57,900)

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss and Tax Credit Carryforwards (Details) $ in Millions	Dec. 31, 2018USD ($)
Federal tax
Net Operating Loss and Tax Credit Carryforwards
Net operating loss carryforwards	$ 102.8
State
Net Operating Loss and Tax Credit Carryforwards
Net operating loss carryforwards	90.4
Foreign
Net Operating Loss and Tax Credit Carryforwards
Net operating loss carryforwards	$ 13.7

Income Taxes - Unrecognized tax

Income Taxes - Unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Unrecognized tax benefits	$ 119	$ 81
Unrecognized tax benefits
Beginning balance	119	81
Gross increase - tax positions in prior periods		38
Lapse in statutes of limitations	(30)
Ending balance	89	119
Accounts payable and accrued expenses
Unrecognized tax benefits	100	100
Unrecognized tax benefits
Beginning balance	100
Ending balance	$ 100	$ 100

Related Party Transactions - Em

Related Party Transactions - Employment and Stock purchase agreements (Details)	Oct. 30, 2018USD ($)shares	Oct. 29, 2018USD ($)$ / sharesshares	Jan. 28, 2016USD ($)item$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017$ / sharesshares
Related party transactions
Share price (in dollars per share) | $ / shares				$ 4.22	$ 1.85
Aggregate purchase price in cash				$ 143,651,000
RSUs
Related party transactions
Granted (in shares) | shares				6,473,484	510,000
Stock Purchase Agreement | Preferred Series A
Related party transactions
Annual rate of dividend			10.00%
Number of board of directors entitled to be elected by preference shareholders | item			3
Initial conversion price | $ / shares			$ 11.16
Jason Rabin | Employment Agreement and Inducement Grant
Related party transactions
Annual base salary		$ 1,275,000
Annual cash bonuses		300.00%
Maximum amount of bonus upon achieving performance goals		$ 4,000,000
Number of shares of common stock authorized to be purchased | shares		3,125,000
Share price (in dollars per share) | $ / shares		$ 8
Jason Rabin | Employment Agreement and Inducement Grant | RSUs
Related party transactions
Granted (in shares) | shares		4,100,000
Jason Rabin | Employment Agreement and Inducement Grant | PSUs
Related party transactions
Granted (in shares) | shares		500,000
Jason Rabin | Employment Agreement and Inducement Grant | Maximum
Related party transactions
Management allowances		$ 200,000
Arthur Rabin
Related party transactions
Annual salary				$ 1,000,000
Anurup S. Pruthi | Employment Agreement and Inducement Grant
Related party transactions
Annual base salary	$ 650,000
Annual cash bonuses	100.00%
Annual cash bonus	$ 250,000
Travel allowance	$ 1,500
Minimum annual cash bonus percentage for first two years	100.00%
Anurup S. Pruthi | Employment Agreement and Inducement Grant | RSUs
Related party transactions
Granted (in shares) | shares	600,000
Anurup S. Pruthi | Employment Agreement and Inducement Grant | Maximum
Related party transactions
Legal fees for negotiation and drafting of employment agreement	$ 15,000
Andrew Tarshis | Consulting agreement
Related party transactions
Compensation per month		$ 25,000
Compensation period (in months)		36 months
Agreement termination period 9in days)		30 days
TCP Denim | Stock Purchase Agreement
Related party transactions
Shares issued (in shares) | shares			50,000
Aggregate purchase price in cash			$ 50,000,000
Mr. Buckley
Related party transactions
Lump sum cash payment		$ 200,000
Full payments towards cost of COBRA continuation coverage for himself and any covered dependents (in months)		18 months
Mr. Buckley | RSUs
Related party transactions
Accelerated vesting on restricted shares (in shares) | shares		144,588
Mr. Buckley | PSUs
Related party transactions
Accelerated vesting on restricted shares (in shares) | shares		150,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 29, 2018	Jan. 18, 2018	Dec. 31, 2018	Dec. 31, 2017
Related party transactions
Preferred Stock, par value (in dollars per share)			$ 0.10	$ 0.10
SWIMS
Related party transactions
Warrants to purchase shares of common stock			500,000
Exercise price of warrants			$ 3
Tengram Capital Partners, LP
Related party transactions
Total related party expenses			$ 5,500	$ 62
Related party expenses, component professional fees and travel reimbursement.			469
GBG acquisition related costs			$ 5,000
New shares issued upon conversion	4,951,177
Preferred Series A
Related party transactions
Shares converted from issuance	50,000		50,000
New shares issued upon conversion	5,852,142
Series A-1 preferred stock
Related party transactions
Shares converted from issuance	4,587,964
New shares issued upon conversion	4,951,177	4,587,964
Series A-1 preferred stock | Tengram Capital Partners, LP | Convertible Notes Due January 2018
Related party transactions
Preferred Stock, par value (in dollars per share)		$ 0.10
Conversion price (in dollars per share)		$ 3
Number of shares issuable upon conversion of the debt		4,587,964

Related Party Transactions - Th

Related Party Transactions - The 2024 Convertible Notes (Details) - 2024 Convertible Notes - USD ($) $ / shares in Units, $ in Thousands	Oct. 29, 2018	Dec. 31, 2018
The 2024 Convertible Notes
Aggregate principal amount	$ 25,000	$ 25,000
Conversion price (in dollars per share)	$ 8
Prior written notice (in days)	10 days
From and after April 29, 2019 To October 29, 2019
The 2024 Convertible Notes
Interest rate (in percent)	12.00%
Prior written notice (in days)	10 days
From and after October 29, 2019
The 2024 Convertible Notes
Interest rate (in percent)	16.00%
Prior written notice (in days)	10 days

Related Party Transactions - _2

Related Party Transactions - The Private Placement (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 29, 2018	Dec. 31, 2018	Dec. 31, 2017
The Private Placement
Share price (in dollars per share)		$ 4.22	$ 1.85
Consideration in private placement		$ 143,651
Private placement
The Private Placement
Shares issued (in shares)	10,000,000
Share price (in dollars per share)	$ 8
Consideration in private placement	$ 80,000
Private placement | GSO/BTO and Jason Rabin
The Private Placement
Consideration in private placement	$ 25,000
Private Placement For Affiliates Entering In to Second Lien Term Facility
The Private Placement
Shares issued (in shares)	23,094,501
Consideration in private placement	$ 0

Related Party Transactions - St

Related Party Transactions - Stockholder Agreement (Details) - Stockholder Agreement	Oct. 29, 2018itemdirector
Stockholder Agreement
Minimum percentage of outstanding shares of common stock to nominate one member	5.00%
Number of independent director	1
Tengram Stockholders
Stockholder Agreement
Number of members in the Board	8
Percent of outstanding shares to nominate two directors	50.00%
Number of directors nominated on 50% shareholding	2
Percent of outstanding shares to nominate one director	5.00%
Number of directors nominated on 5% shareholding	1
Number of independent directors removed	1
Number of Director appointed by Shareholders | item	1
GSO Stockholders
Stockholder Agreement
Percent of outstanding shares to nominate two directors	50.00%
Number of directors nominated on 5% shareholding	1
Number of Director appointed by Shareholders | item	1

Related Party Transactions - _3

Related Party Transactions - The Conversion (Details) - shares	Oct. 29, 2018	Jan. 18, 2018	Dec. 31, 2018
Preferred Series A
The Conversion
Shares converted from issuance	50,000		50,000
New shares issued upon conversion	5,852,142
Series A-1 preferred stock
The Conversion
Shares converted from issuance	4,587,964
New shares issued upon conversion	4,951,177	4,587,964

Related Party Transactions - Ma

Related Party Transactions - Management Incentive Plan (Details)	Oct. 29, 2018shares
Management Incentive Plan
Management Incentive Plan
Number of shares of common stock authorized for issuance	1,776,500

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Selling, general and administrative expenses
Plan expenses	$ 24	$ 36
Matching contributions	$ 156	$ 238
Hudson Plan
Period of service required in order to participate in plan	30 days
DBG Plan
Period of service required in order to participate in plan	6 months
Hours of service required in order to receive employer contribution	1,000
RG Plan
Period of service required in order to participate in plan	90 days
Hours of service required in order to receive employer contribution	1,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Apr. 25, 2019	Jan. 04, 2019	Oct. 29, 2018	Dec. 31, 2018	Apr. 17, 2019	Apr. 16, 2019
Subsequent Event [Line Items]
Receivables Purchase Agreement, Maximum Sale Of Undivided Ownership Interest			$ 450,000,000
Period within which company should file annual reports				60 years
Expected filing duration that might be granted if Nasdaq accepts the plan				180 years
Ross Separation Agreement
Subsequent Event [Line Items]
Period of insurance coverage payment to be made		18 years
Ross Separation Agreement | Subsequent Events
Subsequent Event [Line Items]
Lumpsum cash payment		$ 10,000
Ross Separation Agreement | RSUs
Subsequent Event [Line Items]
Accelerated vesting		133,333
First Lien Credit Agreement | Subsequent Events
Subsequent Event [Line Items]
Maximum borrowing capacity					$ 200,000,000	$ 150,000,000
Fee amount					1,500,000
Trade Receivables Securitization Facility Under R P A | Subsequent Events
Subsequent Event [Line Items]
Maximum borrowing capacity					600,000,000	550,000,000
Receivables Purchase Agreement, Maximum Sale Of Undivided Ownership Interest	$ 600,000,000
Increase in undivided ownership interest	$ 150,000,000
Second Lien Credit Agreement | Subsequent Events
Subsequent Event [Line Items]
Long-term Line of Credit					$ 845,000,000	$ 795,000,000