Hilco Streambank, an intellectual property advisory firm specializing in the valuation and sale of intangible assets, has sold the intellectual property assets of Stein Mart and the execution of a stalking horse bid for the assets.
The assets available for sale include the Stein Mart brand as well as its private label brands, domain names, social media assets and customer data.
On October 29, 2020, Stein Mart Online, Inc., a majority-owned subsidiary of Retail Ecommerce Ventures, signed an agreement to serve as the “stalking horse” bidder, at a purchase price of $4,001,800. The stalking horse bid is a floor bid, and is subject to higher or otherwise better offers, which must be submitted on or before November 16, 2020. If such offers are received, an auction will be held on November 18, 2020. The initial minimum qualifying overbid at the auction will be $4,221,854.
Over the last two years, Retail Ecommerce Ventures has built a diverse group of e-commerce-focused businesses by acquiring the intellectual property assets of retailers such as Dressbarn, Franklin Mint, Linens ‘n Things, Pier 1 Imports, and Modell’s Sporting Goods.