Hilco Streambank has been retained by Simply Fashion Stores, Ltd., to conduct the sale of its IP portfolio including trademarks, domain names and a customer file. The company filed a motion with the United States Bankruptcy Court for the Southern District of Florida seeking approval of sale procedures including a bid deadline of August 6, and an auction on August 10th, 2015.
The marks include Simply FashionTM , SimplyTM, Jamie NicoleTM, Simply 6TM and others. The domain names include simplyfashion.com, simplyfashions.com, simply6.com and others. The company will also be selling the information necessary to maintain contact with its customers through direct email, SMS and social media.
Simply Fashion Stores, LTD., established in 1987, was a leading discount retailer of women’s apparel, and accessories with 247 stores in 25 states. The impact of the economic downturn created a difficult operating environment for Simply Fashion to operate profitably. On April 16, 2015 Simply Fashion commenced its Chapter 11 bankruptcy case. The stores are being liquidated through Simply Fashion’s Chapter 11 bankruptcy proceedings while Hilco Streambank undertakes the process to monetize the intellectual property.
“We believe this is a brand which, with the right strategic buyer, can become profitable once again within a short period of time”, said David Peress, EVP of Hilco Streambank. The name is well recognized in the market. Additionally the SIMPLY mark can be effectively used by a buyer of the marks to create a powerful marketing message” Mr. Peress added.
In addition to Simply Fashion being a recognized brand in women’s apparel, the marks and particularly the domain name have broad application in other areas. The customer file is also quite valuable as Simply Fashion has consistently maintained effective communication with its customers through digital media.
Hilco Streambank will be soliciting offers from potential buyers, preparing bidding materials and instructions as well as working in conjunction with Berger Singerman, counsel to the Debtors, and Soneet R. Kapila, the Chief Restructuring Officer, to complete a successful auction and transaction closing.
Several of Hilco Streambank’s most recent intellectual property and brand dispositions include Borders, Delias, Dots, Naartjie Kids and the RadioShack Corporation.
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 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.
Parties interested in finding out more about this sale should contact Hilco Streambank directly using the contact information provided below:
Executive Vice President
Executive Vice President
Gary C. Epstein
EVP – Chief Marketing Officer
847 418 2712