Bid4Assets.com Auctioning J. Peterman Assets
Bid4Assets.com, Silver Springs, MD, an online marketplace for buying and selling high-value assets from distressed companies, is auctioning certain assets from J. Peterman Co., a retail and catalog company.Assets with a retail value of $111,615 are part of the auction and include a vintage electric barber pole, an Indonesian rickshaw, 173 autographed New York Yankee home plates and 71 Yankee team photographs circa 1923.
The auction, which is taking place at www.bid4assets.com, started Nov. 13 and will conclude tomorrow.
J. Peterman Co., Lexington, KY, which sold vintage-inspired men's and women's clothing as well as collectibles and gifts from around the world, filed for Chapter 11 bankruptcy protection almost two years ago.
In 1999 the company was purchased by Paul Harris Inc., which sold J. Peterman's intellectual property to Schottenstein Bernstein Capital Group in October for $700,000. Paul Harris entered into a joint venture with Schottenstein Bernstein to sell J. Peterman's inventory.
Under the agreement, Paul Harris received an upfront payment of $1.6 million and is expected to receive additional money after a count of its inventory is complete.
