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Ultimate Electronics Brand Name Up for Auction
Ultimate Electronics' trademarks, domains names and intellectual property to be auctioned off on May 25, 2011.
The intellectual property of Ultimate Electronics, which declared bankruptcy in January and began liquidating its assets in February 2011, will be sold at auction on May 25, 2011 in New York. Those assets include trademarks, domains and related intellectual property.
The auction is being done by Streambank LLC, a company that specializes in "intangible asset disposition." Ultimate has filed a motion in Delaware Bankruptcy Court seeking approval of the sale of its intellectual property.
The specific assets include the Ultimate Electronics trademarks, 11 related trademarks, 16 related domain names and the company's social media sites and databases. The company's bankruptcy left many vendors out of pocket earlier in 2011.
As of January 2011, Ultimate Electronics operated 46 stores in 16 states. The company's stores averaged approximately 30,000 to 40,000 square feet and are primarily located in high-traffic retail centers and malls. In 2010, Ultimate had more than $400 million in sales. The domain names can be used to support a variety of new formats, including Flash or membership sites, a drop-ship Internet business, product review site and other concepts, according to Streambank.
The auction is being done by Streambank LLC, a company that specializes in "intangible asset disposition." Ultimate has filed a motion in Delaware Bankruptcy Court seeking approval of the sale of its intellectual property.
The specific assets include the Ultimate Electronics trademarks, 11 related trademarks, 16 related domain names and the company's social media sites and databases. The company's bankruptcy left many vendors out of pocket earlier in 2011.
As of January 2011, Ultimate Electronics operated 46 stores in 16 states. The company's stores averaged approximately 30,000 to 40,000 square feet and are primarily located in high-traffic retail centers and malls. In 2010, Ultimate had more than $400 million in sales. The domain names can be used to support a variety of new formats, including Flash or membership sites, a drop-ship Internet business, product review site and other concepts, according to Streambank.
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About the Author
Jason Knott, Editor, CE Pro
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California.
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