The secured lender of Toadfish retained Hilco Streambank to conduct a sale of its collateral pursuant to Article 9 of the Uniform Commercial Code. The offering included Toadfish’s intellectual property, Amazon Seller Account, accounts receivable, customer data, and inventory.
Toadfish is an outdoor lifestyle brand tailored to coastal living based in Charleston, South Carolina. Founded in 2017, Toadfish more than quadrupled its revenue between 2019 and 2021, providing fishing, kitchen, and drinkware – notably its no-tip can cooler – to a growing base of loyal customers through its ecommerce site, Amazon, and wholesale partners including big box retailers and specialty shops.
Hilco Streambank ran a robust marketing campaign, including social media marketing across various Hilco channels, and advertisement on Hilco Streambank’s website and to our extensive database of contacts. We also facilitated meetings between Toadfish management and interested parties. The process culminated in an auction for the assets at which multiple qualified bidders participated, resulting in the closing of a sale of the assets in May 2023.