BOSTON (CBS) – Attention brides: Filene’s Basement’s famous “Running of the Brides” event may not be dead yet.
Filene’s Basement LLC and Syms Corp., which both filed for bankruptcy last November, have filed a motion with the U.S. Bankruptcy Court to get approval to sell off trade names including its well-known “Running of the Brides,” the firms said on Tuesday.
The Running of the Brides was a famous annual event at Filene’s Basement where brides raced each other for the cheapest designer wedding gown.
Needham-based Hilco Streambank is overseeing the sale of intellectual property by both Filene’s Basement and Syms, according to a news release.
The IP assets that are expected to be sold at auction including “The Running of the Brides,” as well as the Filene’s Basement name itself; and the Syms brand, among others.
“Numerous parties have expressed an interest in these famous brands,” said David Peress, executive Vice President with Hilco Streambank, in the news release.
“This is an opportunity to acquire a wealth of intellectual property associated with two iconic retail chains and the brands they built over generations. This rich history has given these brands a tremendous level of recognition in the Off-Price Retail space.”
If the IP sale is approved by the bankruptcy court, bids will be due by May 1, 2012, and the auction will be set for May 3rd.
Lisa van der Pool of the Boston Business Journal can be seen weekdays at 6 a.m. on WBZ-TV.
You can follow Lisa on Twitter at @lvanderpool.