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INTELLECTUAL PROPERTY
ACQUISITION OPPORTUNITY

Hilco Streambank is offering for sale the intellectual property assets of Modell’s, including its trademarks, Modells.com and other domain names, customer and transaction data, and social media assets. Modell’s is operating as a chapter 11 debtor in a bankruptcy case pending in the Bankruptcy Court for the District of New Jersey. The sale is subject to Bankruptcy Court approval.

 SALE PROCESS – STALKING HORSE BID SIGNED,   SUBJECT TO HIGHER OR BETTER OFFERS

The seller has entered into an agreement with Modell’s Sporting Goods Online, Inc. to serve as the “stalking horse” bidder, at a purchase price of $2,040,000. The “stalking horse” bid is a “floor” bid and will be subject to higher or otherwise better offers through an auction process.  The initial minimum qualifying overbid at the auction will be $2,240,000. A copy of the form of asset purchase agreement is available upon request, and access to a data room containing confidential documents will be provided to parties who execute a confidentiality agreement.

BID DEADLINE

July 31, 2020
5:00 p.m. ET

AUCTION

August 4, 2020
10:00 a.m. ET

OPPORTUNITY OVERVIEW

Modell’s Sporting Goods is America’s oldest, family-owned and operated retailer of sporting goods, athletic footwear, active apparel and fan gear. Founded in 1889 by Morris A. Modell, the brand expanded in its core markets with over 150 retail stores across the Northeast and Mid- Atlantic states. The Modell’s customer is highly engaged in sports related activities and with local and regional professional sports teams. Many are members of the Modell’s MVP Rewards Program and shop across channels through the Modells.com ecommerce website.

Modell’s product offerings break down into four primary categories: apparel, licensed team products, footwear and sporting goods. 46% of sales come from apparel, and 26% through athletic footwear. Recently, Modell’s has experienced growth in the “active life” category comprised of non-performance apparel, with sales up more than 26% over the past 2 years, reflecting the developing lifestyles of its customers.

The Modell’s brand is itself highly engaged with its customers, adjusting quickly to changes in tastes and demand. The Company annually spent $7 million on media advertising in its core markets, embedding its ubiquitous jingle, “Gotta Go to Mo’s,” in the minds of millions of consumers.

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ASSETS FOR SALE

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Screen Shot 2019-10-22 at 6.46.50 AM

BID DEADLINE

July 31, 2020
5:00 p.m. ET

AUCTION

August 4, 2020
10:00 a.m. ET

Contact Hilco Streambank for more information. The sale is subject to Bankruptcy Court approval.