Scott Sternberg. Photo: Imaxtree

Ever since Fashionista broke the news that Band of Outsiders, the well-loved indie label founded and designed by Scott Sternberg, had laid off its staff, would cancel its fall orders and shut down operations, realities about the company's future slowly started coming to light. Its Wooster Street store in New York quietly closed its doors (as did the Momofuku Milk Bar attached to it) after drastically slashing prices on remaining merchandise, and the Band of Outsiders social media accounts got sweetly nostalgic, posting "#TBT: End of Days Edition" photos of its favorite moments and outtakes from Polaroid-shot celebrity ad campaigns. Even Sternberg himself took a moment to address his fans and customers, saying that while he's not certain about what's next for Band of Outsiders, he's grateful to those who embraced and supported it over the years.

Subsequent reports on the brand's closing claimed that it could not pay off its debts, and a public notice printed in both WWD and the Wall Street Journal on Thursday announced that all of Band of Outsiders's remaining intellectual property — which includes the brand name and trademarks — and inventory will be auctioned off on Wed., July 29. The auction will be held by CLCC S.A., a Belgian fashion fund that has served as the Los Angeles-based label's creditor. We'll be watching closely to see how this plays out. See the full notice below.