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Streambank to market S&K Menswear IP Assets
23
Oct '09
Streambank, LLC, an advisory firm specializing in intangible assets, announced it has been retained to undertake the marketing and sales efforts for the intellectual asset portfolio of S&K Menswear. The Richmond, Virginia-based men's clothing retailer filed a voluntary Chapter 11 bankruptcy petition in February and subsequently closed its remaining stores.

The company has signed an agreement to sell its trademarks, URLs, private label brands, data files and gift card liabilities to The Buxbaum Group for $165,000. The Buxbaum offer is subject to higher and better bids and bankruptcy court approval. S&K has filed a motion with the bankruptcy court seeking approval of the Buxbaum bid and sale procedures setting a bid deadline of November 6, 2009, and an auction date of November 10, 2009.

The assets for sale include trademarks, website content and addresses and a database containing customer contact information. The trademarks include the store name S&K Menswear, as well as house brands Roberto Villinni, Kilburne & Finch, and Daniel Gray. S&K's house brands accounted for 44% of the company's sales in its last full year of operation. In addition, the company's database of more than 2.5 million customers is included in the sale and is subject to bankruptcy court approval. The customer list was created through internet and in-store sales.

”Suits and shirts bearing these brands are being worn to work and to special events every day in America, and are a constant reminder to their owners of the quality and craftsmanship available at S&K,” said Margaret Birlem of Streambank. “We're confident that the new owners of these brands will be able to turn their recognition into instant customer loyalty.”

S&K was founded in 1967. The retail chain offered suits, sportswear and related accessories, including premier labels such as Jones New York, Lauren by Ralph Lauren, Oscar de la Renta, Michael Kors, Sean Jean and Bostonian. S&K also operated tuxedo rental and corporate uniform businesses. The company offered the cutting edge of emerging men's fashions while maintaining prices that fit the budget of the value-conscious consumer. At its peak, S&K operated more than 230 stores in 27 states in the eastern US.

Streambank is an advisory firm, specializing in the valuation, marketing, and sales of intangible assets for businesses at all stages. Streambank identifies, preserves, and extracts value for clients through the application of experience, diligence and creativity. The firm's experience spans a broad range of industries including apparel, automotive, consumer products, food, manufacturing, medical technologies, retail and textiles. Streambank's recent client engagements include Goody's Family Clothing, Circuit City Stores, and KB Toys. Streambank provides sound advice on value maximization strategies and liquidity options. Streambank is headquartered in Needham, MA.

S&K Menswear


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