American apparel retailer Stein Mart, which filed for Chapter 11 back in August 2020, is set to see its intellectual property (IP) going up for sale.
The Federal Bankruptcy Court has approved the appointment of Hilco Streambank to handle the IP sale.
According to the agreement, Hilco Streambank, which specialises in IP disposition, will help market the American retailer’s IP to potential buyers and in the process receive a percentage of proceeds with a sale.
IP sales give a retailer an opportunity to live again after bricks-and-mortar.
With regard to getting buyers, many times e-commerce marketing specialists acquire obsolete physical retailer and help it become an e-commerce specialist.
If Hilco manages to get a buyer for the ailing Stein Mart, it would allow the retailer another opportunity as an online specialist or as a bricks-and-mortar store – that is if the buyers have any plans to open any physical stores.
Only time would tell who buys Stein Mart’s IP and when! Keep watching this space for more on the same.
Also Read: Stein Mart fears it may not survive the pandemic crisis
