Assets of Confectioner Sherwood Brands Hit Auction Block

CHASE CITY, Va., Feb. 21, 2012 /PRNewswire/ -- By order of the U.S. Bankruptcy Court, the assets of mass-market confectioner Sherwood Brands, Inc., and its affiliates, will be liquidated through auctions that will get under way this week and next. The intellectual property, inventory, machinery and equipment, and related items are being auctioned by Tiger Group's Remarketing Services Division, while real estate specialists Tranzon Fox (VAAF 423) will be handling the auction of the company's manufacturing plant in Chase City and distribution center in Keysville.

Sealed bids for the intellectual property are due at 5:00 p.m. (EST) on Friday, Feb. 24.  The intellectual property includes trademarks, domain names, customer lists and product designs associated with such popular brands as Asher Candy Canes, Cows, Wanderfalls, and Fruitburst.  For a sealed bid package, go to www.SoldTiger.com.

Live bidding on the real estate, inventory, machinery and equipment, rolling stock, and office equipment will get under way at 11:00 a.m. (EST), on Wednesday, Feb. 29, at 807 S. Main St. in Chase City. For online bidding, go to:  www.SoldTiger.com. Property inspections for the Keysville property, located at 350 Shaw Dr., and the Chase City site have begun.

While the company had moved its manufacturing operations overseas, its Virginia facilities continued to house former manufacturing equipment, as well as packaging equipment used to process and package its confectionary products, seasonal gift sets and general merchandise.  In addition to manufacturing, plant support and material handling equipment, the auction sale will include Sherwood's component inventory, which includes plush animals, mugs, toys, as well as finished chocolate and hard candy goods.

The Chase City property provides 91,652 +/- sq. ft. of enclosed space and is located on 10 +/- acres zoned M1. The fully-sprinklered property has clear ceiling heights of approximately 14 ft. in the original section and approximately 21 ft. in the expansion. Public water and sewer are available. The Keysville property offers 74,687 +/- sq. ft. on 14.9 +/- acres zoned M1. The fully-sprinklered property has clear ceiling heights of approximately 13 ft.

Once a major producer of niche-market candies and confections, and a primary U.S. manufacturer of seasonal candies and gift baskets, Sherwood Brands, Inc., and its affiliates, eventually succumbed to the effects of challenging economy. This led to a Chapter 11 bankruptcy filing for the formerly publicly-traded company that generated annual sales in excess of $50 million and employed approximately 600 people.

As a result of the filing, the U.S. Bankruptcy Court in Greenbelt, Md. ordered the liquidation of some of the most valuable assets of a brand that once sold its wares on the shelves of such major retailers as Walgreens, CVS, Rite-Aid, Kroger, Winn-Dixie, Safeway, Wal-Mart, K-mart, and Target.

"When a company like this falls, there is much lost by employees and the business community it touches; however, out of the ashes come many opportunities for buyers," said Jeff Tanenbaum, president of Tiger Remarketing Services.  "This sale is no exception, with assets being auctioned ranging from confectionary and packaging equipment, to gift and candy related products, to real estate, trademarks, office equipment and so much more."

For more information about the intellectual property, equipment, and inventory, visit www.SoldTiger.com.

For complete details about the real estate auction, including inspection dates and times, visit www.tranzon.com and search "FX1670-71," or call Steve Fox at (757) 373-3151, or [email protected].

About Tiger Remarketing Services Division

Tiger Remarketing Services and its affiliates at Tiger Group provide advisory, restructuring, valuation, disposition and auction services within a broad range of retail, wholesale, and industrial sectors.  With over 40 years of experience and substantial financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, convert assets to capital in a variety of ways quickly and decisively.  Tiger's collaborative and no-nonsense approach is the foundation for its many long-term 'partner' relationships and decades of uninterrupted success.  Tiger maintains offices in Boston, Los Angeles, New York and Atlanta. To learn more about Tiger, please visit www.TigerGroupLLC.com.

About Tranzon Fox

Tranzon Fox is a member company of Tranzon, L.L.C., and is a full-service auction and real estate disposition company. Tranzon has completed over $1.6 billion of real estate auction sales since its founding in 2000. For more information about this auction or to learn more about Tranzon, visit www.tranzon.com.

SOURCE Tiger Remarketing Services