Streambank, LLC, a leading advisory firm specializing in the sale of intangible assets is set to announce this week that they will lead the marketing and sales efforts for the intangible assets of Movie Gallery, Hollywood Video, and Game Crazy.
Movie Gallery Inc. had operated over 4,000 retail video and game rental and sales locations throughout the United States and Canada and filed for voluntary Chapter 11 bankruptcy petitions in February and is currently liquidating its remaining stores.
Among the intangible assets for sale are the trademarks, domain names, and databases associated with all three – including the Reel.com domain name which Hollywood Video acquired in 1998 for some ridiculous amount of money!
Gabe Fried, Managing Member and Founder, Streambank, LLC told us “While the video distribution business continues to evolve with new technologies, the rationale for leapfrogging the competition with a strong brand has never been more apparent. Utilizing these highly recognized brands and well-trafficked websites to promote streaming, kiosks, satellite and cable channels, or other video ventures is an opportunity that should not be missed.”
The marketing of the Movie Gallery, Hollywood Video, Game Crazy and Reel.com trademark and goodwill assets is underway. An auction date will be determined in the near future.
Streambank is an advisory firm, specializing in the valuation, marketing, and sales of intangible assets for businesses at all stages. Streambank identifies, preserves, and extracts value for clients through the application of experience, diligence and creativity. The firm’s experience spans a broad range of industries including apparel, automotive, consumer products, food, manufacturing, medical technologies, retail and textiles. Streambank’s recent client engagements include Tavern on the Green, Goody’s Family Clothing, Circuit City Stores, and KB Toys. Streambank provides sound advice on value maximization strategies and liquidity options. Streambank is headquartered in Needham, MA and has offices in New York, NY.