There was a time when Sherwood Brands, Inc. sold everything from plush toys to Christmas gift baskets.
But the U.S. producer of seasonal sweets, novelty items and holiday gift baskets is no more. Sherwood Brands and its affiliates eventually succumbed to the effects of a challenging economy, and starting on Feb. 24 company assets will be liquidated in a series of auctions.
“When a company like this falls, there is much lost by employees and the business community it touches; however, out of the ashes come many opportunities for buyers,” says Jeff Tanenbaum, president of Tiger Remarketing Services. “This sale is no exception.”
The formerly publicly-traded company, which at one time generated annual sales of more than $50 million and employed about 600 people, filed for Chapter 11 bankruptcy and the U.S. Bankruptcy Court in Greenbelt, Md. ordered the liquidation of some of the company’s most valuable assets.
The intellectual property, inventory, machinery and equipment, and related items will be auctioned by Tiger Group’s Remarketing Services Division, while real estate specialists Tranzon Fox will be handling the auction of the company’s manufacturing plant in Chase City and distribution center in Keysville.
Sealed bids for the intellectual property are due at 5:00 p.m. EST on Feb. 24. The intellectual property includes trademarks, domain names, customer lists and product designs associated with such brands as Asher Candy Canes, Cows, Wanderfalls, and Fruitburst.
Live bidding on the real estate, inventory, machinery and equipment, rolling stock, and office equipment will get under way at 11:00 a.m. EST on Feb. 29. Online bidding will also be held on the Tiger Group website. Property inspections for the Keysville property and the Chase City site have begun.
For more information about the intellectual property, equipment, and inventory, visit www.SoldTiger.com.
For complete details about the real estate auction, including inspection dates and times, visit www.tranzon.com and search “FX1670-71.”