NEEDHAM, Mass., April 21, 2011 /PRNewswire/ -- Streambank, LLC, the leader in providing intangible asset disposition services, will be conducting an auction of the Ultimate Electronics trademarks, domains, and related intellectual property on May 25th 2011 in New York. Ultimate Electronics Inc. has filed a motion with the Delaware Bankruptcy Court seeking approval of the sale of its intellectual property. The assets include the Ultimate Electronics trademarks, 11 related trademarks, 16 related domain names, and the company's social media sites and databases. The hearing to approve the sale is scheduled for May 26th, 2011.
As of January 2011, Ultimate Electronics operated 46 stores in 16 states including the mid-west, western United States and New England. Ultimate Electronics store locations average approximately 30-40,000 square feet and are primarily located in high traffic retail centers and malls. In 2010 Ultimate achieved over $400 million in retail sales. Ultimate Electronics is best known for its consumer electronics and accessories assortment, installation services and in-home and in-car entertainment solutions. http://www.ultimateelectronics.com/
In addition to operating a retail store, the combination of trademarks and domain names can be used to support a variety of new formats including flash or membership sales site, a drop-ship internet business, product review site, and other concepts as well.
"Ultimate developed a loyal customer following who took advantage of our service, installation, and warranty offerings," said Bruce Giesbrecht, the company's CEO. "Ultimate really does mean best."
Please contact Gabriel Fried at (781) 444-4940 for more information on the sale process.
Streambank is an advisory firm specializing in the valuation, marketing, and sale of intangible assets for businesses at all stages. The firm's experience spans a broad range of industries including apparel, automotive, consumer products, food, manufacturing, medical technologies, pharmaceuticals, retail and textiles. Streambank's recent client engagements include Movie Gallery, Anchor Blue, Tavern on the Green, Circuit City Stores, Collins & Aikman and KB Toys. Streambank provides sound advice on value maximization strategies and liquidity options. Streambank is headquartered in Needham, MA and has an office in New York City. For more information, please visit www.streambankllc.com.
SOURCE Streambank, LLC