According to Play Things, KB Toys is going to be selling off their intellectual property. This means that another company could potentially open stores, websites or offer products with the KB Toys name.
KB Toys has tapped Streambank, an intangible asset consulting firm, to oversee the sale of the retailer’s intellectual property.
“We welcome this engagement with KB Toys,” said Gabe Fried, Managing Member and Founder, Streambank LLC. “The wide recognition of the KB Toys name makes it ideal for a variety of applications, including a private-label toy brand, a franchise retail business, a seasonal store, or a pure Internet play.”
Approval of Streambank’s retention by KB Toys is the subject of an application currently pending before the United States Bankruptcy Court for the District of Delaware, according to the company.
“In addition to the storied KB Toys name, the intellectual property portfolio includes 14 other KB Toys-related trademarks, some of which are registered internationally, and a number of house brands developed by the company,” added Margaret Birlem, a Streambank partner. “We anticipate significant interest in these assets.”
Streambank has been busy as the recession whittles away at the nation’s retail chains. Its recent efforts have included the marketing and sales of IP assets for Circuit City, Goody’s Family Clothing, Mervyns and Tower Records.
KB Toys filed voluntary chapter 11 bankruptcy petitions in December 2008. In addition to its three store formats, the company’s operations included a wholesale arm, Creative Innovations & Souring, that provided custom toy and specialty merchandise solutions, and an Internet business, KBtoys.com.