NEW YORK, April 10, 2017 /PRNewswire/ -- The stalking horse bid of Spin Master, Ltd., to acquire the e-commerce and wholesale business assets of Marbles: The Brain Store® was approved by the United States Bankruptcy Court for the Northern District of Illinois. The stalking horse offer is $2,500,000, and is subject to higher and better offers, with a Bid Deadline set for Thursday, April 20, 2017 at 5:00 PM CT. Hilco Streambank (www.hilcostreambank.com), is managing the sale process and will be overseeing an auction to consider additional bids for the Assets in Chicago, Illinois, on April 24, 2017 at 10:00 am CT.
Important dates for the sale process are as follows:
- Bid Deadline: Thursday, April 20, 2017 at 5:00 PM CT
- Auction Date: Monday, April 24, 2017 at 10:00 AM CT
- Sale Hearing: Wednesday, April 26, 2017 at 11:00 AM CT
Marbles: The Brain Store® is a developer, wholesaler and specialty retailer of games, toys, puzzles, books, and software designed to strengthen and stimulate the brain. Last year, the Company generated $28 million in revenue through its multi-channel distribution platform. Marbles has a portfolio of proprietary game and toy content available at www.marblesthebrainstore.com.
According to Hilco Streambank EVP – David Peress: "Marbles' unique product offering responds to the demand for games and toys that stimulate and engage the brain in a variety of ways. The brand's wholesale footprint continues to grow." "Management has identified several areas of opportunity for future development including institutional partnerships, licensing, and subscription-based services," added Mr. Peress.
Parties interested in learning more about the Marbles intellectual property assets, the sale process and other bidding requirements should contact Hilco Streambank directly using the contact information provided below.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Hilco Streambank has completed numerous sell-side transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/spin-master-ltd-approved-as-stalking-horse-bidder-for-ip-and-related-assets-of-marbles-the-brain-store-hilco-streambank-to-oversee-auction-300436778.html
SOURCE Hilco Streambank