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Bid Procedures Filed for Sale of Brinkmann(R) IP

NEW YORK, April 6, 2016 (GLOBE NEWSWIRE) -- Outdoor Direct Corporation has accepted a stalking horse bid of $350,000 for the Brinkmann® grilling and outdoor cooking brand and related intellectual property. A motion to approve bidding procedures was filed with the Bankruptcy Court and is scheduled to be heard on April 18, 2016. The proposed bid procedures provide for the following:

Bid Deadline: May 5, 2016 at 4:00PM ET
Auction Date: May 10, 2016 at 10:00AM ET
Minimum Over-Bid: $400,000

Hilco Streambank and Piper Jaffrey are jointly marketing the assets and seeking additional bids. The assets include trademarks, domain names and patents associated with the Brinkmann® brand. The sale is being conducted pursuant to Section 363 of the Bankruptcy Code in the Chapter 11 case pending in the United States Bankruptcy Court for the District of Delaware (Case No. 15-12080 (KG)).

"Brinkmann® is a heritage brand in the grilling and outdoor cooking category, manufacturing quality gas and charcoal barbeque grills since 1974. This is a great opportunity to own a well-recognized home center brand with a legacy of value and innovation" said David Peress, EVP of Hilco Streambank.

Parties interested in learning more about the Brinkmann® assets, the sale process and other bidding requirements should contact Hilco Streambank directly using the contact information provided below.

About Hilco Streambank

Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation 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 a leader in helping companies maximize the value of their assets.

For questions or more information regarding the Brinkmann® intellectual property, please contact:

David Peress
Executive Vice President
Hilco Streambank
(781) 471-1239
dperess@hilcoglobal.com

Jack Hazan
Executive Vice President
Hilco Streambank
(212) 610-5663
jhazan@hilcoglobal.com

Dmitriy Chemlin
Director
Hilco Streambank
(212) 610-5642
dchemlin@hilcoglobal.com

CONTACT: Gary Epstein Hilco Global Office: 847-418-2712 Mobile: 847-323-4943 Email: gepstein@hilcoglobal.com

Source: Hilco Global