---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-091675"
form_type: "8-K"
ticker: "XELB"
cik: "0001083220"
company_name: "XCel Brands, Inc."
filed_at: "2025-09-19T23:59:59+00:00"
generated_at: "2026-05-17T06:04:34.418389+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Xcel Brands dismisses recently-appointed auditor CBIZ CPAs, appoints Wolf; discloses material weakness

## Summary
- Dismissed CBIZ CPAs on Sep 15, 2025; no disagreements but a material weakness was identified.
- Appointed Wolf & Company, PC as new independent auditor on Sep 16, 2025 for FY 2025.
- Material weakness: inability to file 10-K/10-Q on time due to reliance on third party for unconsolidated affiliate financial info.
- CBIZ CPAs issued no audit report during its brief engagement from May to September 2025.

## SEC filing metadata
- accession: 0001104659-25-091675
- form_type: 8-K
- ticker: XELB
- cik: 0001083220
- company_name: XCel Brands, Inc.
- filed_at: 2025-09-19T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083220/000110465925091675/0001104659-25-091675-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083220/000110465925091675/xelb-20250915x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-091675
- JSON: https://secwatch.observer/filing/0001104659-25-091675.json
- Plain text: https://secwatch.observer/filing/0001104659-25-091675.txt

## Source-grounded claims
- claim_id: 5d391c42276690ad311fb41557c1de3560686f38
  claim: XCel Brands, Inc. dismissed CBIZ CPAs P.C. as its auditor.
  evidence_excerpt: (a) Dismissal of Independent Registered Public Accounting Firm On September 15, 2025, the Audit Committee of the Board of Directors of Xcel Brands, Inc. (the “Company”) dismissed CBIZ CPAs P.C. (“CBIZ CPAs”) as the Company’s independent registered accounting firm. The Company informed CBIZ CPAs of its termination on September 16, 2025. ​ As previously disclosed in a Current Report on Form 8-K filed on May 29, 2025, on May 27, 2025 Marcum LLP was dismissed, and CBIZ CPAs was appointed, as the Company’s independent registered public accounting firm.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083220/000110465925091675/0001104659-25-091675-index.htm
- claim_id: 5e8460d5cabd3cf0bf2f7409596a098c61f9958e
  claim: XCel Brands, Inc. engaged Wolf & Company, PC as its auditor.
  evidence_excerpt: ​ (b) Appointment of New Independent Registered Public Accounting Firm ​ On September 15, 2025, Audit Committee approved the engagement of Wolf & Company, PC (“Wolf”) as the Company’s independent registered public accounting firm and formally engaged Wolf on September 16, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083220/000110465925091675/0001104659-25-091675-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.