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Date set for KB Toys' IP auction

By Staff -- Gifts and Dec, 7/23/2009 9:39:00 AM

NEEDHAM, Mass.—Streambank, the intellectual property consulting firm, has set an August 4 deadline for bids on the intellectual property assets of KB Toys.

Streambank’s announcement follows the U.S. Bankruptcy Court for the District of Delaware’s approval of KB’s sale procedures at a hearing on July 17.

Bids may be entered until 4:00 p.m., Tuesday, August 4. The auction will commence Thursday, August 6 at 10:00 a.m. According to Streambank there is no stalking horse bidder.

KB Toys’ assets for sale include 15 registered trademarks, among them KB Toys, Toy Works and Toy Liquidators. More than 65 URLs are also available, including www.kbtoys.com.

“Given the wide recognition of the KB Toys name, the company’s intellectual property offers a wealth of opportunities,” said Gabe Fried, Streambank’s Managing Member and Founder. “Streambank is in contact with numerous firms with varying levels of interest. We anticipate a very productive auction.”

Streambank was retained in May to undertake the marketing and sales efforts for the KB Toys’ IP portfolio.

KB Toys filed voluntary Chapter 11 bankruptcy petitions in December 2008 and closed its stores shortly thereafter.

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