Deadline for Submitting Bids Set for April 17, 2018.
Hilco Streambank has been retained by Styles for Less, Inc. to market and sell the intellectual property of Styles for Less®, including trademarks, domain names, and customer database. A bid deadline has been set by Hilco Streambank for Tuesday, April 17, 2018 at 5:00 PM (ET). The sale of the assets and sale process are subject to approval of the United States Bankruptcy Court for the Central District of California, where the Style for Less® chapter 11 bankruptcy case is pending.
The company, known by its fans as Styles, was founded in 1992 and provided women in their late teens and early 20s with chic, low-cost, high-quality apparel. At its peak, Styles for Less® operated over 150 retail stores throughout California, Nevada, Arizona, Texas and Florida. In addition, Styles operated its e-commerce website at StylesForLess.com which attracted approximately 2MM unique visitors in 2017. The company was able to grow its social media presence to over 230K followers across various social media platforms and more than 1MM opt-in email subscribers.
Hilco Streambank SVP Richelle Kalnit explains, “The Styles for Less retail platform is a victim of industry discounting, online penetration and shifts in consumer spending.” It is a casualty of the large number of retail store closings in 2017. The struggle for retailers continues, with more than 1,500 store closures announced in the first few months of 2018, including the likes of longstanding brands such as Toys “R” Us and Abercrombie & Fitch. In regard to the Styles for Less assets, Kalnit added, “The value in this opportunity comes from a loyal customer following and years of building brand loyalty amongst women in their late teens and early 20s. The Styles for Less intellectual property provides a great opportunity for an up-and-coming retailer to expand its customer base or a well-established retailer to acquire a house brand.”
Parties interested in learning more about the Styles for Less intellectual property assets should visit the Styles for less landing page and submit and inquiry form.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. 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 a worldwide financial services company and leader in helping companies maximize the value of their assets.