Perry Ellis International Inc announced that it has completed the purchase of all intellectual property assets of Anchor Blue, Inc.
The Company made a successful $500,000 bid in a March 3rd, 2011 auction for the Anchor Blue and Miller's Outpost trademarks, and all other intellectual property holdings associated with Anchor Blue, Inc. The intellectual property assets were purchased free and clear or any liens, claims or encumbrances. The transaction was approved by the bankruptcy court in the state of Delaware and closed on March 11, 2011.
"As the Anchor Blue name continues to have a loyal consumer following, especially within the denim category we feel the benefit of adding these brands to our current portfolio is two fold. First, it will allow us to further develop our current denim business across all brands and second, as Anchor Blue continues to be very well known along the West Coast and among the younger Hispanic community, we feel it will allow us to continue developing our connection to a younger demographic." commented Oscar Feldenkreis, President and Chief Operating Officer of Perry Ellis International.
Anchor Blue Inc was a Corona, CA based specialty retailer of casual apparel and accessories for the teenage market. As of December 31, 2010 the company operated 115 stores primarily located along the West Coast. After what was a series of operational challenges and a difficult 2010 holiday season for the company, it liquidated all of its inventory, and on January 11, 2011 filed for bankruptcy protection under Chapter 11 with the bankruptcy court of Delaware.
Streambank LLC of Needham, MA served as an advisor to Anchor Blue, Inc. in connection with the auction of all Intellectual property rights of the company.
Perry Ellis International Inc
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