Article: Plush Toy Maker Sells Applause Tradename for $7,550,000.

Toymaker Takes Important Step Towards Successful Reorganization

The former Woodland Hills-based Applause, LLC today announced the sale of its tradename "Applause" and related tradenames to Russ Berrie and Company, Inc. , the winning bidder in an auction conducted as part of Applause's chapter 11 reorganization.

Last August, Russ Berrie agreed to pay $4,000,000 in cash for Applause and related trademarks. Due to Applause's recent entry in chapter 11 bankruptcy, the sale was re-structured as a bankruptcy court auction that resulted in a bidding war with a New York investment fund taking the deal from its original price to the winning bid of $7,550,000. ...

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