Schurman Retail Group
Hilco Streambank brought the Schurman Retail Group intellectual property assets to market in early 2020 as part of the company’s chapter 11 case. Schurman Retail Group was a leading specialty retailer of personal expression and gift products in North America. Founded in 1950, the company operated approximately 250 retail stores across the United States and Canada under the Papyrus®, American Greetings®, Carlton Card® and Paper Destiny® brand names, and the ecommerce website PapyrusOnline.com.
The offering included the company’s Paper Destiny, NIQUEA.D, XOXO Dominique, Marcel Schurman and Schurman Retail Group trademarks, PapyrusOnline.com and other domain names, customer and transaction data for approximately 1.1 million active customers, designs for greeting cards, social media assets, and the company’s IPv4 addresses.
We reached out to more than 100 potential buyers for the intellectual property assets, and advertised the IPv4 addresses on our auction platform for those assets, IPv4.Global. Following receipt of bids and qualification of bidders, we assisted the debtors in closing three separate sales. One of the sales consisted of a subset of intellectual property including certain brands, domain names, greeting card designs and customer data to American Greetings. Another sale consisted of certain assets including brands, domain names, greeting card designs and social media assets to Dominique Schurman, the daughter of the company’s founder. Finally, a third sale closed consisting of the company’s IPv4 addresses.