US: S&K looks to sell intellectual assets
Bankrupt US retailer S&K Menswear is looking to sell its remaining intellectual asset portfolio after shutting its stores in May.
S&K filed a voluntary Chapter 11 bankruptcy petition in February and subsequently closed its remaining stores.
The company has signed an agreement to sell its trademarks, URLs, private label brands, data files and gift card liabilities to The Buxbaum Group for US$165,000. However, the Buxbaum offer is subject to higher and better bids and bankruptcy court approval.
It has now appointed advisory firm Streamban for the sale of assets including trademarks, website content and addresses and a database containing customer contact information.
The trademarks include the store name S&K Menswear, as well as house brands Roberto Villinni, Kilburne & Finch, and Daniel Gray.
"Suits and shirts bearing these brands are being worn to work and to special events every day in America, and are a constant reminder to their owners of the quality and craftsmanship available at S&K," said Margaret Birlem of Streambank. "We're confident that the new owners of these brands will be able to turn their recognition into instant customer loyalty."
At its peak, S&K operated more than 230 stores in 27 states in the Eastern US.
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