NEW YORK, Nov. 4, 2015 (GLOBE NEWSWIRE) -- Hilco Streambank (www.hilcostreambank.com), intellectual property sales consultant to The Great Atlantic and Pacific Tea Company, announced today that the company has accepted a stalking horse offer of $1.75 million from Key Food Stores to acquire The Food Emporium banner and related brands. The Food Emporium is a chain of fine food and grocery stores in the New York City metropolitan area. As of 1993 the stores have been operating under the ownership of A &P. The acquired assets include The Food Emporium banner, trademarks, domain names, e-commerce business, and fully developed mobile application. The proposed sale is to be conducted pursuant to Section 363 of the Bankruptcy Code in A &P's Chapter 11 case pending in the United States Bankruptcy Court for the Southern District of New York. The proposed bid deadline for higher and better offers is November 30, 2015 at 5:00 PM (EST).
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, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
For questions or more information regarding The Food Emporium and the Company's other intellectual property assets, please contact:
Executive Vice President
For media and press: (201) 571-4453
CONTACT: Dan Gagnier/Meghan Gavigan/Brian Shiver Sard Verbinnen & Co (212) 687-8080 A&P Public Relations
Source: Hilco Global