(MENAFNEditorial) itemprop="contentLocation" itemscope itemtype="http://schema.org/Place">NEW YORK, Feb. 10, 2017 /PRNewswire/ -- Hilco Streambank (www.hilcostreambank.com) has been retained, subject to Court approval, to market and sell the intellectual property assets of The Wet Seal, LLC. ("Wet Seal"). Included in the sale are trademarks, domain names, customer databases, and the e-commerce platform (www.wetseal.com). The assets are being sold pursuant to Section 363 of the Bankruptcy Code in Wet Seal's Chapter 11 case pending in the United States Bankruptcy Court for the District of Delaware. The proposed bid deadline is February 28, 2017 at 5:00 PM (ET).
The Wet Seal brand promises to be the first and last word for casual and young contemporary apparel inspired by Southern California effortlessly chic and laid back party culture. At its height, Wet Seal, operated over 500 stores in 48 states, building tremendous brand awareness. Recently, the chain has re-tooled to a smaller 170 store footprint and leveraged its broad awareness through its online store: www.wetseal.com. The company has engaged Hilco Streambank, a market-leading intellectual property advisory firm to sell the brand and related IP assets including its ongoing ecommerce platform.
"The Southern California style epitomized by Wet Seal's continues to resonate with its strong customer base," said Hilco Streambank EVP – David Peress. "The Wet Seal ecommerce platform and IP asset portfolio provides the opportunity to reach this customer through multiple digital and store based channels," Mr. Peress added.
Parties interested in learning more about the Wet Seal 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.
David Peress
Executive Vice President
Hilco Streambank
(781) 471-1239
Jack Hazan
Executive Vice President
Hilco Streambank
(212) 610-5663
Dmitriy Chemlin
Director
Hilco Streambank
(212) 610-5642
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/hilco-streambank-to-sell-intellectual-property-of-the-wet-seal-llc-300405465.html
SOURCE Hilco Streambank
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