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Hilco Streambank to Sell dELiA*s Intellectual Property

February 13, 2015, 07:42 AM
Filed Under: Bankruptcy

Hilco Streambank is acting on behalf of a joint venture of Hilco Merchant Resources and Gordon Brothers Retail Partners, the exclusive agent of dELiA*s, Inc. in connection with the sale of the intellectual property and other assets related to the company's direct and retail business (the "Assets"). The Assets are being sold in a sale under Section 363 of the Bankruptcy Code in a Chapter 11 case pending in the United States Bankruptcy Court for the Southern District of New York in White Plains, NY. A "Stalking Horse" offer of $2.5 million to acquire the Assets has been accepted subject to higher and better offers at the Auction.

dELiA*s was started in 1993 with the goal of producing and selling clothing, footwear and accessories to teenage girls that expressed a fun and light hearted sensibility. Over time, dELiA*s evolved into an omni-channel retailer whose products were distributed through its e-commerce website, by direct mail catalogs and mall-based retail stores. For the fiscal years 2011, 2012 and 2013 dELiA*s aggregate annual sales through all channels were $172, 181 and 137 million, respectively. On December 7, 2014, the Company filed for Chapter 11 bankruptcy protection, and thereafter commenced the liquidation of its inventory through its stores and e-commerce channel.  Hilco Streambank is soliciting additional bids for the Assets, which bids must be received by the bid deadline on February 18, 2015 at Noon EST.

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, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through and, 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. 

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