Dots intellectual property assets sold to New Dots over stalking horse

By Kali Hays

New York, May 23 - Dots, LLC named New Dots LLC as the high bidder for the sale of its intellectual property assets, according to a May 22 order with the U.S. Bankruptcy Court for the District of New Jersey.

New Dots purchased the assets, which include the Dots apparel and accessories brand, the Dots.com domain name and the company's customer database, for $326,001 and agreed to assume certain liabilities, according to the asset purchase agreement.

The sale is expected to close no later than June 13.

As previously reported, Rainbow Shops was the confirmed stalking horse bidder for the assets with an opening bid of $250,000 during the May 9 auction.

Dots, a Glenwillow, Ohio-based women's clothing and accessories retailer, filed for bankruptcy on Jan. 20 in the U.S. Bankruptcy Court for the District of New Jersey under Chapter 11 case number 14-11016.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.