Hilco Streambank’s Role
Following closure of the firm and liquidation of its inventory, machinery and equipment (by Hilco Industrial), Berkline Benchcraft Holdings, LLC retained Hilco Streambank to market and sell the Berkline and Benchcraft brands and related intellectual property, including its trademarks, domain names, patents, toll free telephone numbers, copyrights and contracts, while operating as a debtor under Chapter 11 in the Delaware bankruptcy court.
Berkline Benchcraft specialized in the manufacturing of upholstered furniture, with a focus on recliners and other motion furniture under the Berkline brand, as well as stationary seating under the BenchCraft brand.
Hilco Streambank Closed the Deal
Hilco Streambank canvassed the market, with a focus on its extensive contacts in the furniture industry. We negotiated a stalking horse bid for the intellectual property assets totaling $850,000. Following a renewed outreach effort, we identified two additional qualified bidders for the assets. Hilco Streambank conducted an auction and, following numerous rounds of bidding, assisted the company in closing a deal with Ashley Furniture for $6 million.