Hilco Streambank’s Role
Anna’s Linens, operating as a chapter 11 debtor, retained Hilco Streambank to market and sell its intellectual property assets. Founded in 1987, Anna’s Linens was a leading multi-channel specialty retailer offering high quality and stylish home textiles, furnishings and décor at attractive prices. The company operated a chain of 268 company-owned retail stores throughout 19 U.S. states and an e-commerce site at www.annaslinens.com, generating approximately $400 million in annual revenue on an aggregate basis.
Hilco Streambank Canvassed the Marketplace
The asset package included more than 20 trademarks, the company’s e-commerce platform, domain names and customer data totaling approximately 7.5 million members of the Fan of Anna’s customer loyalty program.
Hilco Streambank Closed the Deals
Hilco Streambank ran an auction to maximize value of the intellectual property assets. At the auction, Hilco Streambank was able to pair together multiple parties whose interests had no overlap to bid against a party interested in all of the intellectual property, generating additional value for the estate. Two bidders purchased the intellectual property assets for a cumulative value of $275,000.