Hilco Streambank is auctioning Syms Corp.’s intellectual property assets as part of the firm’s liquidation process.
This story first appeared in the November 30, 2011 issue of WWD. Subscribe Today.
Those assets includes the Syms trade name, other trademarks, Internet URLs and Web sites, as well as the Filene’s Basement trade name and the trademarked Running of the Brides name.
Hilco Streambank will consider bids for the complete portfolio or individual brands.
Jack Hazan, executive vice president at Hilco Streambank, said Streambank has already received “expressions of interest in the IP from apparel retailers and investment firms” whose specialty is in brand revitalization and management.
Syms/Filene’s Basement filed its Chapter 11 petition on Nov. 2 in a Delaware bankruptcy court. Going-out-of-business sales began on Nov. 16th.
Streambank, which markets IP assets, was acquired by Hilco Trading on Sept. 6. Hilco Trading is a holding company. One of its business units, Hilco Merchant Resources, along with Gordon Brothers Retail Partners, are conducting the GOB sales.