By  on November 14, 2017

Hot Topic’s plus-size affiliate Torrid is at the heart of a burgeoning lawsuit between private equity backers and a very unhappy group of creditors.

The investors put up $335 million for Sycamore Partners Management LP’s 2013 $600 million leveraged buyout of Hot Topic, but claim that the private equity firm organized an “insider scheme” to separate the Torrid business away from other parts of Hot Topic’s operation “to net hundreds of millions of dollars in financially engineered profits.”

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