Streambank, LLC today announced that a bid deadline and auction date have been finalized for the sale of the intellectual property assets of KB Toys, Inc. Bids may be entered until 4:00 p.m., Tuesday, August 4. The auction will commence Thursday, August 6 at 10:00 a.m. The US Bankruptcy Court for the District of Delaware approved KB’s sale procedures at a hearing on July 17.
The KB Toys assets for sale include 15 registered trademarks, among them KB Toys, Toy Works and Toy Liquidators. More than 65 URLs are also available including www.kbtoys.com. In addition to private label and licensing, the assets offer a wide variety of opportunities including franchising, seasonal store or specialty store, e-commerce, and ‘store within a store’ distribution.
“Given the wide recognition of the KB Toys name, the company’s intellectual property offers a wealth of opportunities,” said Gabe Fried, Managing Member and Founder, Streambank, LLC. “Streambank is in contact with numerous firms with varying levels of interest. We anticipate a very productive auction.”
No stalking horse bidder has been established, according to Mr. Fried. Interested parties may contact Streambank at 781.444.4940 to receive a copy of the Asset Purchase Agreement, or request additional information about the assets for sale.
Streambank was retained in May to undertake the marketing and sales efforts for the KB Toys IP portfolio. Once one of the nation’s largest and oldest toy retailers, KB Toys filed voluntary Chapter 11 bankruptcy petitions in December 2008, citing tightening credit markets and a sudden and steep decline in consumer sales. In connection with the filing, KB Toys announced it would close all of its approximately 460 remaining stores, and attempt to locate a buyer for its wholesale distribution unit.
About Streambank
Streambank is an intellectual property consulting firm, specializing in the valuation, sales and marketing of intangible assets. Serving healthy and distressed businesses, Streambank identifies, preserves, and extracts value for clients through the application of experience, diligence and creativity. The firm’s experience spans a broad range of industries including apparel, automotive, consumer products, food, manufacturing, medical technologies, retail and textiles. Streambank is headquartered in Needham, MA. For more information, please visit www.streambankllc.com.