NEW YORK, May 6, 2014 (GLOBE NEWSWIRE) -- Hilco Streambank has announced that Rainbow Shops will be the stalking horse bidder in the Chapter 11 auction of Dots LLC intellectual property assets at an opening purchase price in the amount of $250,000. The bid deadline has been extended to 11:59PM ET Wednesday May 7th, 2014 to accommodate competing bidders. The auction was rescheduled to Friday May 9th, 2014. The marks include the well-known Dots® apparel and accessories brand, the Dots.com domain name, and the company's customer database. The assets will be sold to the highest bidder or bidders at the conclusion of the auction.
The Dots brand was established in 1987 and became a leading retailer of women's apparel, footwear and accessories with approximately 400 stores in 28 states. After an extensive effort to restructure, the company filed for Chapter 11 bankruptcy protection on January 20th, 2014. Hilco Streambank has been hired to manage the process to monetize all of the intellectual property.
"We have seen significant interest in the assets" said Jack Hazan, EVP of Hilco Streambank. "In addition to Dots being a recognized brand in women's apparel, we also view the brand, and particularly the domain name, to have broad application across many categories in both the retail and non-retail sectors." Hazan said.
Hilco Streambank indicated that it believes that the customer file is also quite valuable because it has been kept current and Dots has maintained effective communication with its customers through digital media. "Based on the reaction we have received from interested bidders for the Dots IP, we expect to see considerable competition from several bidders in this auction," said Mr. Hazan.
Parties interested in finding out more about this sale should contact Hilco Streambank directly using the contact information provided below:
Jack Hazan (212) 610-5663
Anna Moreva (781) 444-4940
Dmitriy Chemlin (212) 610-5642
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases as well as private transactions, Hilco Streambank has established itself in the internet and telecom community as a responsible and effective intermediary in the space. Hilco Streambank is a Hilco Global Company. Northbrook, IL based Hilco Global (www.hilcoglobal.com) is the world's preeminent authority on helping businesses to maximize the value of their assets.
CONTACT: Gary C. Epstein Chief Marketing Officer Hilco Global email@example.com 847 418 2712
Source: Hilco Global