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Ultimate Electronics Assets Go On Auction Block

4/21/2011 09:25:28 AM Eastern
Needham, Mass. - Streambank, LLC, a leading provider of intangible asset disposition services, will be conducting an auction of the trademarks, domains and related intellectual property of Ultimate Electronics on May 25 in New York.

The Colorado-based retailer closed its final 30 stores earlier this month and filed a motion with the Delaware Bankruptcy Court seeking approval of the sale of its intellectual property. The assets include the Ultimate Electronics trademarks, 11 related trademarks, 16 related domain names, and the company's social media sites and databases. The hearing to approve the sale is scheduled for May 26.

As of January 2011, Ultimate Electronics operated 46 stores in 16 states including the mid-west, western United States and New England. Ultimate Electronics store locations average approximately 30,000-40,000 square feet and are primarily located in high-traffic retail centers and malls. According to the TWICE Top 100 CE Retailers Report for calendar year 2009 Ultimate had CE sales of $443 million in retail sales

For more information on the sales process contact Gabriel Fried at (781) 444-4940 and for more info on Streambank visit www.streambankllc.com.
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