Specialty retailer Brookstone Inc. has got a $35 million offer for its brand name from Authentic Brands Group Inc., WSJ Pro Bankruptcy reported. The retailer, which is known for selling massage chairs, travel gadgets and other novelties at malls and airports, sought chapter 11 protection in early August with plans to sell its brand and airport stores. The offer from Authentic Brands, which would serve as an opening bid at a bankruptcy-run auction and is subject to court approval, is primarily for the brand assets. Authentic Brands, backed by private-equity firm Leonard Green & Partners, is a frequent shopper of bankrupt assets. As recently as June the retailer made its latest acquisition through a bankruptcy-run auction for brands associated with Nine West Holdings Inc. The licensing firm paid $340 million for Nine West and Bandolino brands, despite having set a much lower baseline bid. Authentic Brands ended up going toe-to-toe with DSW Holdings Inc. during the auction. Authentic Brands also owns the brands associated with Aeropostale Inc. and Frederick’s of Hollywood as results of bankruptcy-sale processes. The proposed bid for Brookstone also “includes an expressed interest” in finding a partner to keep the retail business, which includes the airport stores, open according to a news release.
