Bankrupt retailer Just Cabinets puts web domains up for sale
The rise of online shopping could help salvage the Just Cabinets name from bankruptcy court.
More than two months after the Dauphin County-based home furnishings company liquidated its stores, nine domain names associated with the bankrupt retail business are up for sale.
Hilco Streambank, a New York-based advisory firm that specializes in selling intellectual property, is marketing the JustCabinets.com domain name, along with other eight variations. The list includes four "furniturewoodworks" domains ending in .net, .com, .biz and .org.
Bids are due Dec. 3. The sale of the assets, which can be purchased separately, are subject to approval of the U.S. Bankruptcy Court for the Middle District of Pennsylvania. The company filed for bankruptcy in mid-September.
JustCabinets.com, first registered in 1998, has been historically used as an e-commerce site for the Just Cabinets Furniture & More brand. The company was founded in 1979 by Mort Bernstein, who also started Ollie's Bargain Outlet. His son, Ted Bernstein, has been the president of Just Cabinets since 1990.
The sale of retail domains and other intellectual property is fairly common.
One recent example is Bon-Ton Stores Inc., which was revived over the summer by Indiana-based CSC Generation Holdings Inc. CSC paid $900,000 in bankruptcy court for the brands, websites and other intellectual property, and is now using them to sell online. A brick-and-mortar store is expected to open in suburban Chicago on Black Friday.
Back in May, bankrupt Toys R Us put Geoffrey the Giraffe and various web domains on the auction block to raise money to repay its creditors. However, the retail chain recently changed its mind on the sale of its intellectual property, including brand names and website addresses, after it developed a plan to come back as a toy wholesale business.