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Sept 19 – Sept 25, 2011 Edition Borders to Sell Intellectual Property for $15.775 Million
BUSINESSWIRE/September 19, 2011–Hilco Streambank, the intellectual property valuation and disposition arm of Hilco Trading, LLC, late last week said that the auction for the intellectual property of Borders which was held on September 14, 2011, in New York City, resulted in the sale of various assets for $15,775,000. Multiple bidders, including Barnes & Noble and Berjaya Books, each acquired specific assets, which included a global portfolio of trademarks, the Borders, Waldenbooks and Brentanos trade names, Internet domain names, and the Borders.com e-commerce website. The outcome of the auction is subject to approval by the United States Bankruptcy Court for the Southern District of New York. A hearing is scheduled for September 20, 2011.
Ten bidders participated in the robust proceedings, including booksellers, major publishing companies and internet only retailers. The auction included more than 50 rounds of bidding before the winning bidders emerged.
We are very pleased with the successful auction. The participants clearly recognized the significant strategic value in the Borders name and other assets linked to the Borders customer base, and the Borders estate benefited as a result, said Holly Etlin, Borders Group CEO.
A separate sale process for Borders Groups Class B legacy IPV4 addresses is underway. Interested parties should contact Hilco Streambank and ask for Kirstin DiCecca at 781-444-4940.
Borders filed for bankruptcy in February.
