Ashley Furniture Agrees to Buy Berkline Intelligence

July 10, 2011  by in UnCategorized   

By Aggregated Content in Acquisition on July 11, 2011 from http://c.moreover.com/click/here.pl?z4943223846&z=1250249032 Berkline/BenchCraft, a provider in the home furnishings industry, has entered into a stalking horse agreement to sell its intellectual property assets to Ashley Furniture Industries for $850,000. The agreement is subject to higher and better offers and Bankruptcy Court approval. Streambank expects that the deadline for additional offers will be set on or around August 5. Streambank also announced it has been retained as the exclusive agent to sell the intellectual property rights relating to the CBGB brand. CBGB was a famous music club located in New York City known as the Home of Underground Rock & Roll Music.

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