The brand name of specialty retailer Brookstone Inc. will be sold to Bluestar Alliance LLC, the licensing brand firm that has been eager to acquire bankrupt stores’ intellectual property, WSJ Pro Bankruptcy reported. The sale is the result of a lengthy auction that spanned from Wednesday through Sunday, according to court papers filed Sunday. Bluestar, in a joint bid with technology company Apex Digital Inc., walked away the winning bidder. The sale is subject to court approval. Bluestar has been looking to buy the Brookstone brand since late August, shortly after the retailer had received an offer from Authentic Brands Group LLC, a rival brand-licensing firm. Bluestar not only upended Authentic Brands’ bid, it increased its own three times, eventually heading to the auction with a court-approved $56.35 million opening offer, or so-called stalking-horse bid. The retailer — which sells everything from toys and games to sleep and wellness products — said it values the winning firms’ bid at between about $66 million and $74 million, which includes cash and the assumption of liabilities.
