Fred’s looks to sell intellectual property; auction set for Dec. 18

By Caroline Salls

Pittsburgh, Nov. 26 – Fred’s Inc. requested court approval for the proposed sale of some of its intellectual property assets, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The company said the intellectual property consists of trademarks, the domain name fredsinc.com, customer files and related transaction data, social media assets and the Nasdaq stock ticker symbol “FRED.”

Under the procedures for the sale, bids are due by noon ET on Dec. 13.

An auction will be held on Dec. 18, if necessary.

The sale hearing is scheduled for Jan. 7.

Fred’s is a Memphis, Tenn.-based operator of discount general merchandise stores and specialty pharmacy-only locations. The company filed bankruptcy on Sept. 9 under Chapter 11 case number 19-11984.

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