Iconix Brand Group has obtained a loan of $300 million from the Fortress Investment Group. While it will cost $9 million in annual interest expenses, the five-year loan sent the stock market capitalization by 17 percent for the financially distressed parent company of Umbro and many other brands. The news came after Iconix announced that it has sold back the high-end Badgley Mischka fashion brand, which it had acquired in 2004, mentioning a lack of time and resources to support its growth. Iconix, which also owns Candie's and nearly 30 other brands, is getting $16 million in cash from the transaction..

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