Proteam.com Assets to be Auctioned Dec. 14

Share this content:
Genesis Direct, Secaucus, NJ, doing business as Proteam.com, will put its assets up for sale at a bankruptcy auction Dec. 14, at the U.S. Bankruptcy Court, King Federal Building, Newark, NJ.


Proteam.com -- a multi-title catalog and e-commerce marketer of sports equipment and accessories through several catalogs and web sites, including Proteam, NASCAR, Hot off The Ice and Nothing But Hoops, as well as The Edge, its gift catalog, and The Voyager's Collection, an in-flight catalog -- filed for Chapter 11 bankruptcy protection in August.


The auction will include its combined customer databases of about 4 million names and $20 million worth of inventory. Cox Communications and World Color Press are two creditors among several who are owed money.


Pending final approval, its Carol Wright Gifts catalog inventory and database will be acquired by Dr. Leonard's, a health and fitness products company, next month.


Calls to Genesis Direct were not returned, but Genesis executives are optimistic that the business itself can survive. "Genesis Direct expects to have the companies at break-even in 2000, and show profits of $3.1 million and $6.9 million on an EBITDA basis in 2001 and 2002, respectively," according to a statement released by the company. It also is projecting $12 million in Web-generated sales for 2000.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here