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Article: Plush Toy Maker Sells Applause Tradename for $7,550,000.
- Article from:
- PR Newswire
- Article date:
- October 19, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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. ...